SCHEDULES
SCHEDULE 4 The Keeping of the Housing Revenue Account
Part II Debits to the Account
F1Item 10: sums directed by Secretary of State or National Assembly for Wales
Any sums which for the year the authority is required, by reason of a direction given by the appropriate person, to carry from the account to the credit of some other revenue account of theirs.
A direction under this item may require the transfer of sums calculated in accordance with formulae specified in the direction, and any formula so specified may include variables framed (in whatever way the appropriate person considers appropriate) by reference to such matters as the appropriate person thinks fit.
In giving a direction under this item, the appropriate person may (in particular) take into account the effect of such a direction on—
(a) other revenue accounts in the authority’s relevant fund,
(b) the amounts of council tax falling to be set by the authority under section 30 of the Local Government Finance Act 1992, and
(c) the authority’s budget requirement under section 32(4) of that Act.
In this item the reference to the authority’s “relevant fund” is—
(a) in relation to England, to the authority’s general fund within the meaning of section 91(2) of the Local Government Finance Act 1988, and
(b) in relation to Wales, to the authority’s council fund within the meaning of section 38(1) of the Local Government (Wales) Act 1994.
Sch. 4 Pt. 2 Item 10 inserted (18.11.2003 for E. and 27.11.2003 for W. for the purpose of and in relation to financial years beginning on or after 1.4.2004) by Local Government Act 2003 (c. 26), s. 128(6), Sch. 7 para. 33(5); S.I. 2003/2938, art. 3(a) (with art. 8, Sch.); S.I. 2003/3034, art. 2, Sch. 1 Pt. I