Paragraph 3

In this Schedule—

references to rents receivable on, and to rent rebates on, 31st March in any year are references to the amount of those rents, or as the case may be of those rent rebates, for the year immediately after the said date;

references to rents, rebates, costs of management and costs of maintenance are references to the rents, rebates or costs in respect of the housing accommodation transferred by article 4 to the transferee authority;

references to rent rebate subsidy are references to the rent rebate subsidy payable under sections 1 and 6 of the Housing Finance Act 1972.