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.