Article 4 Keeping of the Housing Revenue Account – debits to the Account

In Part II of Schedule 4 to the 1989 Act (keeping of the Housing Revenue Account – debits to the Account), for item 2 (expenditure for capital purposes) there shall be substituted—

“Item 2: capital expenditure

Any expenditure of the authority in respect of houses and other property within the account—

(a)

which is capital expenditure for the year; and

(b)

which the authority decide should be charged to a revenue account for the year.

In this item “capital expenditure” means expenditure which is capital expenditure for the purposes of Chapter 1 of Part 1 of the Local Government Act 2003 (capital finance)^f1.”.