Regulation 128 Amounts set aside—advances to housing associationsI1

England and Wales Not yet in force

In determining their adjusted credit ceiling at any time, a local authority shall disregard any reduction in their credit ceiling which results from the setting aside under section 59(1) of the reserved part of a sum received which is a capital receipt by virtue of section 58(1) (c) or (d), and is paid in respect of an advance made by the authority on or before 30th September 1989—

(a)

to a housing association (within the meaning given to that expression in section 1 of the Housing Associations Act 1985^f1); and

(b)

for the purposes of expenditure in respect of which the association in question received a grant under section 50 of the Housing Act 1988^f2, section 41(1) of the Housing Associations Act 1985^f3 or section 29(1) of the Housing Act 1974^f4.

Annotations

Commencement

I1: Reg. 128 in force at 1.4.1997, see reg. 1(1)(b)

Footnotes

f1: 1985 c. 69.
f2: 1988 c. 50.
f3: Section 41 was repealed by section 140(2) of, Schedule 18 to, the Housing Act 1988.
f4: 1974 c. 44 Section 29 was repealed by section 3 of, and Schedule 1 to, the Housing (Consequential Provisions) Act 1985 (c. 71).