PART 5HOUSING FINANCE

Housing Revenue Account subsidy

131Abolition of Housing Revenue Account subsidy

1

This section provides for the abolition of the subsidy payable in relation to the Housing Revenue Accounts of local housing authorities under the Local Government and Housing Act 1989.

2

That Act is amended as follows.

3

In Part 6 (Housing Finance)—

a

omit section 79 (Housing Revenue Account subsidy);

b

omit section 80 (calculation of Housing Revenue Account subsidy);

c

omit section 80ZA (negative amounts of subsidy payable to appropriate person);

d

omit section 80A (final decision on amount of Housing Revenue Account subsidy);

e

omit section 80B (agreements to exclude certain authorities or property);

f

omit section 85 (power to obtain information);

g

omit section 86 (recoupment of subsidy in certain cases).

4

In Schedule 4 (the keeping of the Housing Revenue Account)—

a

in Part 1 (credits to the Account), omit Item 3 (Housing Revenue Account subsidy);

b

in Part 2 (debits to the Account), omit Item 5 (sums payable under section 80ZA);

I1c

in Part 3 (special cases), omit paragraph 2 (credit balance where no HRA subsidy payable) and the heading immediately before it.