# The Registered Housing Associations (Accounting Requirements) Order 1988, Article 10: Constitution of the Grant Redemption Fund


(1) The Grant Redemption Fund of an association shall be constituted and shown in the accounts according to the method set out in this article, and in this article “Fund” means Grant Redemption Fund.
(2) The surpluses calculated in the manner determined by the Secretary of State under section 53(3) of the 1985 Act shall be shown as such in the property revenue account or, in the case of a co-ownership society or almshouse, in the income and expenditure account of the association.
(3) The Fund shall be shown in the balance sheet, and the sums shown under paragraph (2) of this article shall be transferred to that Fund.
(4) Where sums stand in the Fund in respect of previous periods, they shall be accumulated with any sums transferred to the Fund in respect of the period of account.

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Source: https://www.legislation.gov.uk/uksi/1988/395/article/10 (the official version)
Page: https://openlegislation.uk/registered-housing-associations-accounting-requirements-order-1988/article-10
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.