51 Revenue deficit grants.E+W
(1)[F2The [F3Relevant Authority]] may make a grant to a [F4housing association which is a registered social landlord] if—
(a)in relation to all housing activities of the association,
(b)in relation to housing activities of the association of a particular description, or
(c)in relation to particular housing activities of the association,
the association’s expenditure as calculated by the [F3Relevant Authority]. . . for any period (including a period which is wholly or partly a future period) exceeds its income as so calculated for that period.
(2)In calculating an association’s expenditure or income for the purposes of subsection (1) above, [F5the Corporation]—
(a)shall act in accordance with such principles as it may from time to time determine; and
(b)may act on such assumptions (whether or not borne out or likely to be borne out by events) as it may from time to time determine.
(3)Subsections (2) and (3) of section 50 above shall apply for the purposes of this section as they apply for the purposes of that section.
Extent Information
E1This version of this provision extends to England and Wales only; a separate version has been created for Scotland only
Textual Amendments
F2Word in s. 51(1) substituted (1.10.1996) by S.I. 1996/2325, art. 5(1), Sch. 2 para. 18(5)(a)(i)
F3Words in s. 51 substituted (1.11.1998) by 1998 c. 38, s. 140, Sch. 16 para. 61(1)(2) (with ss. 139(2), 141(1), 143(2)); S.I. 1998/2244, art. 5
F4Words in s. 51(1) substituted (1.10.1996) by S.I. 1996/2325, art. 5(1), Sch. 2 para. 18(5)(a)(ii)
F5Words in s. 51(2) substituted (1.10.1996) by S.I. 1996/2325, art. 5(1), Sch. 2 para. 18(5)(b)
Modifications etc. (not altering text)
C1S. 51 restricted (1.4.1997) by 1996 c. 52, ss. 28(2), 251(4)(b), (with s. 51(4)); S.I. 1997/618, art. 2 (subject to transitional provisions and savings in Sch.)
S. 51 amended (1.4.1997) by 1996 c. 52, ss. 28(6), 251(4)(b); S.I. 1997/618, art. 2 (subject to transitional provisions and savings in Sch.)
C2S. 51 functions transferred (E.W.) (1.12.2008) by The Transfer of Housing Corporation Functions (Modifications and Transitional Provisions) Order 2008 (S.I. 2008/2839), arts. 1(1), 2; S.I. 2008/3068, art. 2(1)(b) (with arts. 6-12)
C3S. 51 modified (E.W.) (1.12.2008) by The Transfer of Housing Corporation Functions (Modifications and Transitional Provisions) Order 2008 (S.I. 2008/2839), arts. 1(1), 3, Sch. para. 4; S.I. 2008/3068, art. 2(1)(b) (with arts. 6-12)
51 Revenue deficit grants.S
(1)The Housing Corporation or, as the case may be, Housing for Wales may make a grant to a registered housing association if—
(a)in relation to all housing activities of the association,
(b)in relation to housing activities of the association of a particular description, or
(c)in relation to particular housing activities of the association,
the association’s expenditure as calculated by the Corporation concerned for any period (including a period which is wholly or partly a future period) exceeds its income as so calculated for that period.
(2)In calculating an association’s expenditure or income for the purposes of subsection (1) above, the Housing Corporation or, as the case may be, Housing for Wales—
(a)shall act in accordance with such principles as it may from time to time determine; and
(b)may act on such assumptions (whether or not borne out or likely to be borne out by events) as it may from time to time determine.
(3)Subsections (2) and (3) of section 50 above shall apply for the purposes of this section as they apply for the purposes of that section.
Extent Information
E2This version of this provision extends to Scotland only; a separate version has been created for England and Wales only