Housing Act 1985

424 The housing costs differential. E+W

(1) A [F1 [F2 development] corporation’s] housing costs differential for a year of account is the amount by which their reckonable expenditure for that year exceeds their reckonable expenditure for the preceding year (and accordingly is nil or, as the case may be, a negative amount if the reckonable expenditure for the year is the same as or less than that for the preceding year).

(2) A [F3 [F2 development] corporation’s] reckonable expenditure for a year is the aggregate of—

(a) so much of the expenditure incurred by the [F3 corporation] in that year and falling to be debited to [F3 the corporation’s housing account] as the Secretary of State may determine, and

(b) so much of any other expenditure incurred by the [F3 corporation] in that year, or treated as so incurred in accordance with a determination made by the Secretary of State, as the Secretary of State may determine to be taken into account for the purposes of housing subsidy.

[F4 (3) A determination may be made for all [F2 development] corporations or different determinations may be made for individual corporations; and a determination may be varied or revoked in relation to all or any of the corporations for which it was made.]

(4) Before making a determination for all [F5 [F2 development] corporations] the Secretary of State shall consult organisations appearing to him to be representative of [F5 [F2 development] corporations].

Textual Amendments

F1 Words substituted by Local Government and Housing Act 1989 (c. 42, SIF 61), s. 194(1), Sch. 11 para. 80(1)

F2 Words in s. 424 substituted (1.12.2008) by The Housing and Regeneration Act 2008 (Consequential Provisions) Order 2008 (S.I. 2008/3002), art. 4, Sch. 1 para. 14 (with Sch. 2); S.I. 2008/3068, arts. 1(2), 2(1)(b) (with arts. 6-13)

F3 Words substituted by Local Government and Housing Act 1989 (c. 42, SIF 61), s. 194(1), Sch. 11 para. 80(2)

F4 S. 424(3) substituted by Local Government and Housing Act 1989 (c. 42, SIF 61), s. 194(1), Sch. 11 para. 80(3)

F5 Words substituted by Local Government and Housing Act 1989 (c. 42, SIF 61), s. 194(1), Sch. 11 para. 80(4)

Modifications etc. (not altering text)

C1 Ss. 421–427A: by Local Government and Housing Act 1989 (c. 42, SIF 61), s. 79(3) it is provided that sections 421 to 427A of the Housing Act 1985 (which are superseded, in their application to local housing authorities, by that section 79 and sections 80 and 86 of that 1989 Act) shall cease to apply in relation to such authorities