Housing Act 1985

Treatment of expenditure or receipts of a capital nature.

2 (1) The regulations may require expenditure or receipts to be treated, or not to be treated, as of a capital nature.

(2) The regulations may, in the case of an item, of a capital nature, determine the method of arriving at the appropriate equivalent annual amounts to be taken into account, and their number, or may specify classes of case in which an item of a capital nature is to be taken into account for a single year.

(3) The number of equivalent annual amounts prescribed under sub-paragraph (2) shall not in any case exceed 60.

(4) The regulations may provide that, where the prescribed number of equivalent annual amounts in respect of an item exceeds 15, all equivalent annual amounts in respect of that item shall be left out of account from such year, not being less than 15 years after the year in which the item arises and not earlier than 1986-87, as may be specified in the regulations.