The Secretary of State may by order impose, as respects a local authority or class thereof specified in the order, a limit to the amount of contribution out of their general fund which the authority or, as the case may be, an authority of the class may estimate that they will carry to the credit of their housing revenue account for the year specified in the order; and it shall be the duty of the local authority so to estimate that amount as not to exceed that limit.

The limit referred to in subsection (1) may be expressed in whatever way the Secretary of State thinks fit.

An order under this section shall be made by statutory instrument which shall be subject to annulment in pursuance of a resolution of either House of Parliament.

Every local authority shall submit to the Secretary of State an estimate of the income and expenditure an account of which they are obliged, under section 203, to keep in their housing revenue account for the year next following.

In subsection (1), “general fund” means the fund maintained by a local authority under section 93 of the M1Local Government (Scotland) Act 1973.