Finance Act 1991

95 Housing for Wales

(1) In section 342 of the [1970 c. 10.] Income and Corporation Taxes Act 1970 (disposals of land between Housing Corporation and housing associations) and section 342A of that Act (disposals by Housing Corporation and certain housing associations) the words “or Housing for Wales” in each place where they occur (which were inserted by the [1988 c. 50.] Housing Act 1988 consequentially on the establishment of Housing for Wales) shall be omitted and those sections shall instead be amended as follows.

(2) In section 342, the words from “Where” to “that party” shall become subsection (1) and the remaining words shall become subsection (2).

(3) In subsection (2) of that section, for “In this section” there shall be substituted “In subsection (1) above”.

(4) In that section, there shall be inserted at the end—

“(3) This section shall also have effect with the substitution of the words “Housing for Wales” for the words “the Housing Corporation” and “the Corporation”, in each place where they occur.”

(5) In section 342A, after subsection (1) there shall be inserted—

“(1A) Subsection (1) above shall also have effect with the substitution of the words “Housing for Wales” for the words “the Housing Corporation” and “the Corporation”, in each place where they occur.”

(6) This section shall be deemed to have come into force on 1st December 1988.