The Local Authorities (Capital Finance and Accounting) (England) (Amendment) Regulations 2013

Pooling of receipts from the disposal of housing land

3.—(1) In regulation 14—

(a) for paragraph (1) substitute—

“(1) This regulation applies to the following capital receipts arising from the disposal of housing land prior to 1st April 2012—

(a) amounts received by the local authority as mortgagee of any housing land;

(b) amounts received on or after 1st April 2006, in relation to the disposal of the authority’s rights and obligations as mortgagee of any dwelling; and

(c) amounts received pursuant to the enforcement of a covenant contained in a conveyance of a freehold or grant of a leasehold in compliance with section 155 of the Housing Act 1985(1) (repayment of the right to buy discount).”;

(b) for paragraph (2), substitute—

“(2) Where this regulation applies, the specified amount is an amount equal to 75% of the capital receipt in relation to the disposal of housing land.”; and

(c) omit paragraph (3).

(2) Omit regulations 15 to 19.

(1)

1985 c. 68.