(1)A [F1new town 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 [F2new town corporation’s] reckonable expenditure for a year is the aggregate of—
(a)so much of the expenditure incurred by the [F2corporation] in that year and falling to be debited to [F2the corporation’s housing account] as the Secretary of State may determine, and
(b)so much of any other expenditure incurred by the [F2corporation] 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.
[F3(3)A determination may be made for all new town 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 [F4new town corporations] the Secretary of State shall consult organisations appearing to him to be representative of [F4new town corporations].
Textual Amendments
F1Words substituted by Local Government and Housing Act 1989 (c. 42, SIF 61), s. 194(1), Sch. 11 para. 80(1)
F2Words substituted by Local Government and Housing Act 1989 (c. 42, SIF 61), s. 194(1), Sch. 11 para. 80(2)
F3S. 424(3) substituted by Local Government and Housing Act 1989 (c. 42, SIF 61), s. 194(1), Sch. 11 para. 80(3)
F4Words 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)
C1Ss. 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Housing Act 1989 (c. 42, SIF 61), s. 79(3) it is provided that sections 421 to 427A of the Housing Act 1985 (which are superseded, in their application to local housing authorities, by that section 79 and sections 80 and 86 of that 1989 Act) shall cease to apply in relation to such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