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Housing (Scotland) Act 1988

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This is the original version (as it was originally enacted).

10Miscellaneous financial directions

(1)If for a financial year the revenues of Scottish Homes exceed the total sums properly chargeable to revenue account, it shall apply the excess in such manner as the Secretary of State may, after consultation with Scottish Homes direct; and the Secretary of State may direct that the whole or part of the excess be paid to him.

(2)The Secretary of State may give directions to Scottish Homes as to matters relating to—

(a)the establishment or management of reserves;

(b)the carrying of sums to the credit of reserves; or

(c)the application of reserves for the purposes of the functions of Scottish Homes.

(3)The Secretary of State may direct Scottish Homes to pay to him the whole or part of any sums for the time being standing to the credit of its reserves or being of a capital nature and not required for the exercise of its functions.

(4)The Secretary of State may act under this section only with the approval of the Treasury.

(5)It shall be the duty of Scottish Homes to comply with directions under this section.

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