33(1)Schedule 4 (keeping of the Housing Revenue Account) is amended as follows.E+W
(2)In Part 1 (credits to the Account), item 5 (housing benefit transfers) is omitted.
(3)In that Part, for item 9 (sums directed by Secretary of State) there is substituted—
Any sums which for the year the authority is required, by reason of a direction given by the appropriate person, to carry to the credit of the account from 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.”
(4)In Part 2 (debits to the Account), item 4 (rent rebates) is omitted.
(5)In that Part, after item 9 there is inserted—
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.”
Commencement Information
I1Sch. 7 para. 33 partly in force; Sch. 7 para. 33(1) in force at Royal Assent see s. 128(1)(b)