Paragraph 5 Housing revenue account

Despite the coming into force of paragraph 33(3) of Schedule 7 to the Act, any direction made under item 9 in Part 1 of Schedule 4 to the Local Government and Housing Act 1989, which has effect for a financial year beginning on or after 1st April 2004 is to continue to have effect, as if it were made under item 9 as substituted by paragraph 33(3) of Schedule 7 to the Act.