Regulation 144 Determining the housing reductionI1

England and Wales Not yet in force

(1)

In this regulation, “relevant amounts” means any amounts falling to be set aside—

(a)

under section 59(1) or 61(4) by virtue of the disposal of a house, dwelling or other property to which section 74(1) (duty to keep Housing Revenue Account) applied immediately before the disposal; or

(b)

in accordance with a determination under section 50(3)(c) or 60(2) referring to a credit arrangement which—

(i)

is of a description excluded by regulations made by the Secretary of State under paragraph 11(2) of Schedule 3 to the Act; and

(ii)

was entered into for housing purposes.

(2)

For the purposes of regulation 143, the authority’s housing reduction in the last year is the aggregate of—

(a)

if the authority’s housing component on the last day of the year before the last year is a positive amount, two per cent. of that amount; and

(b)

the amount, if any, by which the authority’s adjusted credit ceiling was reduced during the last year by the setting aside of relevant amounts as provision to meet credit liabilities.

Annotations

Commencement

I1: Reg. 144 in force at 1.4.1997, see reg. 1(1)(b)