Regulation 2 Levy on disposals of dwelling-houses
(1)
The amounts which may by virtue of subsection (8) of section 136 of the Act be applied as mentioned in that subsection shall not exceed the relevant percentage of the levy concerned.
(2)
In paragraph (1) above, “relevant percentage” means either—
(a)
the percentage of the aggregate amount “CR” defined in section 136(3) of the Act which is set aside by the authority as provision to meet credit liabilities in accordance with section 59(1) and section 61(4) of the Local Government and Housing Act 1989f1, or
(b)
where the percentage mentioned in sub-paragraph (a) above is nil, 1 per cent.
Annotations
Footnotes
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