Point in time view as at 17/09/2014.
Housing Act 1985, Section 425 is up to date with all changes known to be in force on or before 09 March 2025. There are changes that may be brought into force at a future date. Changes that have been made appear in the content and are referenced with annotations.
(1)A [F1[F2development] corporation’s] local contribution differential for a year of account is the amount by which their reckonable income for that year exceeds their reckonable income for the preceding year (and accordingly is nil or, as the case may be, a negative amount if their reckonable income for the year is the same as or less than that for the preceding year).
(2)[F3A corporation’s] reckonable income for a year is the amount which, in accordance with any determination made by the Secretary of State, the [F4corporation] are assumed to receive for that year as income which they are required to carry to their [F3housing account] including—
(a)any contribution made by the [F4corporation] out of their [F3general revenue account], and
(b)any rent rebate subsidy payable under [F5[F6section 140A]of the Social Security Administration Act 1992],
but excluding any other subsidy, grant or contribution.
(3)A determination shall state the assumptions on which it is based and the method of calculation used in it, and in making it the Secretary of State shall have regard, amongst other things, to past and expected movements in incomes, costs and prices.
[F7(4)A determination may be made for all [F2development] corporations or different determinations may be made for different corporations or groups of corporations.]
(5)Before making a determination for all [F8[F2development] corporations] the Secretary of State shall consult organisations appearing to him to be representative of [F8[F2development] corporations].
(6)A determination shall be made known to the [F9corporations] for which it is made in the year preceding the year of account for which it is to have effect.
Textual Amendments
F1Words substituted by Local Government and Housing Act 1989 (c. 42, SIF 61), s. 194(1), Sch. 11 para. 81(1)
F2Words in s. 425 substituted (1.12.2008) by The Housing and Regeneration Act 2008 (Consequential Provisions) Order 2008 (S.I. 2008/3002), art. 4, Sch. 1 para. 15 (with Sch. 2); S.I. 2008/3068, arts. 1(2), 2(1)(b), (with arts. 6-13)
F3Words substituted by Local Government and Housing Act 1989 (c.42, SIF 61), s. 194(1), Sch. 11 para. 81(2)
F4Word substituted by Local Government and Housing Act 1989 (c. 42, SIF 61), s. 194(1), Sch. 11 para. 81(2)
F5Words in s. 425(2)(b) substituted (1.7.1992) by virtue of Social Security (Consequential Provisions) Act 1992 (c. 6), ss. 4, 7(2), Sch. 2 para. 70
F6Words in s. 425(2)(b) substituted (1.4.1997) by 1996 c. 52, s. 123, Sch. 13 para. 2; S.I. 1997/618, art. 2 (subject to transitional provisions and savings in Sch.)
F7S. 425(4) substituted by Local Government and Housing Act 1989 (c. 42, SIF 61), s. 194(1), Sch. 11 para. 81(3)
F8Words substituted by Local Government and Housing Act 1989 (c. 42, SIF 61), s. 194(1), Sch. 11 para. 81(4)
F9Word substituted by Local Government and Housing Act 1989 (c. 42, SIF 61), s. 194(1), Sch. 11 para. 81(5)
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
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