Regulation 67 Grants and advances to housing associationsI1

England and Wales Not yet in force

(1)

In the case of a payment which is a capital receipt by virtue of section 58(1)(c) or (d), the reserved part shall be 100 per cent. if the payment is made in respect of a grant, an advance or other financial assistance which—

(a)

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

(b)

was to be applied towards expenditure for which the housing association received a grant under section 18 of the Housing Act 1996^f2, section 50 of the Housing Act 1988^f3, section 41(1) of the Housing Associations Act 1985 ^f4 or section 29(1) of the Housing Act 1974 ^f5.

(2)

In the case of a capital receipt which is received in respect of—

(a)

the disposal of an interest in land acquired by the authority under a mortgage made as security for an advance, or

(b)

the assignment of a debt owed to the authority in connection with an advance,

the reserved part shall be 100 per cent. if the reserved part of a repayment of the principal of the advance would fall to be determined under paragraph (1).

Annotations

Commencement

I1: Reg. 67 in force at 1.4.1997, see reg. 1(1)(b)

Footnotes

f1: 1985 c. 69.
f2: 1996 c. 52.
f3: 1988 c. 50.
f4: Section 41 was repealed by section 140(2) of, and Schedule 18 to, the Housing Act 1988.
f5: 1974 c. 44. Section 29 was repealed by section 3 of, and Schedule 1 to the Housing (Consequential Provisions) Act 1985 (c. 71).