Part VIE+W Housing Finance

Modifications etc. (not altering text)

C1Pt. 6 (ss. 74-86) applied (1.4.1997) by 1992 c. 5, s. 140G (as inserted (1.4.1997) by 1996 c. 52, s. 121, Sch. 12 paras. 4; S.I. 1997/618, art. 2 (subject to transitional provisions in Sch.))

Housing subsidiesE+W

[F180ZANegative amounts of subsidy payable to [F2Welsh Ministers] E+W

(1)If calculation in accordance with a determination under section 80(1) above of the amount of Housing Revenue Account subsidy payable to a local housing authority for a year produces a negative amount—

(a)the authority shall for that year debit the equivalent positive amount to their Housing Revenue Account, and

(b)pay that equivalent amount to the [F3Welsh Ministers].

(2)Amounts payable to the [F4Welsh Ministers] under subsection (1)(b) above shall be paid to [F5them] in such instalments, at such times and in such manner as [F6they] may determine.

(3)A payment in respect of an amount payable under subsection (1)(b) above shall be accompanied by such information as the [F7Welsh Ministers] may require.

(4)The [F8Welsh Ministers] may charge a local housing authority interest, at such rates and for such periods as [F9the Welsh Ministers] may determine, on any sum payable to [F10the Welsh Ministers] under subsection (1)(b) above that is not paid by such time as may be determined under subsection (2) above for its payment.

(5)The [F11Welsh Ministers] may charge a local housing authority an amount equal to any additional costs incurred by [F12the Welsh Ministers] as a result of any sum payable to [F12the Welsh Ministers] under subsection (1)(b) above not being paid by such time as may be determined under subsection (2) above for its payment.]

Textual Amendments

F1S. 80ZA 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), ss. 90(1), 128(6); S.I. 2003/2938, art. 3(a) (with art. 8, Sch.); S.I. 2003/3034, art. 2, Sch. 1 Pt. I