Modifications etc. (not altering text)
C1Pt. 6 (ss. 74-86) applied (1.4.1997) by 1992 c. 5, s. 140G (as inserted (1.4.1997) by 1996 c. 52, s. 121, Sch. 12 paras. 4; S.I. 1997/618, art. 2 (subject to transitional provisions in Sch.))
(1)A local housing authority who are required to keep a Housing RevenueAccount may also keep, in accordance with proper practices, an account called the “Housing Repairs Account”.
(2)An authority who keep a Housing Repairs Account shall carry to the credit of the account for any year—
(a)sums transferred for the year from their Housing Revenue Account; and
(b)sums receivable by the authority for the year in connection with the repair or maintenance of houses or other property within their Housing Revenue Account (either from their tenants or from the sale of scrapped or salvaged materials).
(3)The authority shall carry to the debit of the account for any year—
(a)all expenditure incurred by them for the year in connection with therepair or maintenance of houses or other property within their Housing Revenue Account;
(b)such expenditure incurred by them for the year in connection with the improvement or replacement of houses or other property within their Housing Revenue Account as may from time to time be determined by the Secretary of State; and
(c)sums transferred for the year to the Housing Revenue Account in accordance with subsection (5) below.
(4)The authority shall secure that sufficient credits are carried to the account to secure that no debit balance is shown in the account for any year.
(5)The authority may carry some or all of any credit balance in the account for any year to the credit of their Housing Revenue Account.
(6)So much of any credit balance shown in an authority’s Housing Repairs Account at the end of the year beginning 1st April 1989 as is not carried tothe credit of their Housing Revenue Account for that year shall be carried forward and credited to some other revenue account of theirs for the year beginning 1st April 1990.