Regulation 7 Capital receipts of debt-free authorities

for sub-paragraphs (c) and (d) of paragraph (2) substitute the following—

“and

(c)

paragraph (3) applies to the receipt.”; and

after paragraph (2) add the following paragraph—

“(3)

This paragraph applies to a capital receipt where—

(a)

apart from this regulation, the capital receipt would have a reserved part greater than nil per cent. by virtue of regulation 66, 66A, 68A or 72;

(b)

the receipt is derived from a disposal made by virtue of Part V of the Housing Act 1985^f1 (the right to buy) of a dwelling provided under Part II of that Act (provision of housing accommodation); or

(c)

the receipt is derived from a disposal of any housing land other than a dwelling provided under Part II of that Act.”.