Housing (Financial Provisions) (Scotland) Act 1972

24 The rent rebate account

(1) Every local authority shall for the year 1972-73 and subsequent years keep an account (to be called " the rent rebate account ") and shall in each year—

(a) carry to the credit of that account the amount of rent rebate subsidy payable to them under section 5 of this Act;

(b) debit to that account—

(i) the local authority's amount of rent rebates for the year, and

(ii) the local authority's costs of administering their rent rebates for the year.

(2) Where for any year a deficit is shown in the account, the local authority shall carry to the credit of the account in respect of that year an amount equal to the amount of the deficit.