Regulation 5 Capital receipts to be treated as reduced: disposal of certain dwellings

in paragraph (2)–

the following paragraphs shall be inserted after paragraph (2)–

“(2A)

Subject to paragraph (2B) below, this paragraph applies to the disposal of a dwelling which has at any time been occupied under a secure tenancy or of which the authority have at any time granted a lease, other than a shared ownership lease.

(2B)

Paragraph (2A) above does not apply to the disposal of a dwelling where–

(a)

the dwelling is a house (within the meaning of section 44(3) of the Housing Act 1985) which was acquired by the authority following a relevant previous disposal of the dwelling made more than five years before the disposal mentioned in paragraph (2) above; and

(b)

a lease of the dwelling had been granted, or the dwelling had been occupied under a secure tenancy, at any time before the relevant previous disposal.”; and

in paragraph (6), the following definition shall be inserted after the definition of “relevant date”–

““relevant previous disposal” means a disposal which was made by the authority in pursuance of Part V of the Housing Act 1985 or Chapter I of Part I of the Housing Act 1980 or, with a relevant consent, to a person who, at the time of the disposal, occupied, or intended to occupy, the dwelling in question as his only or principal home and, for these purposes, “relevant consent” means a consent given by the Secretary of State to local authorities generally under section 32 or 43 of the Housing Act 1985, section 22 of the Housing and Building Control Act 1984 or section 104 of the Housing Act 1957;”^f1.