(1)In Part 6 of the Local Government and Housing Act 1989 (c. 42) (housing finance), after section 80 there is inserted—
(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 appropriate person.
(2)Amounts payable to the appropriate person under subsection (1)(b) above shall be paid to him in such instalments, at such times and in such manner as he may determine.
(3)A payment in respect of an amount payable under subsection (1)(b) above shall be accompanied by such information as the appropriate person may require.
(4)The appropriate person may charge a local housing authority interest, at such rates and for such periods as he may determine, on any sum payable to him 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 appropriate person may charge a local housing authority an amount equal to any additional costs incurred by him as a result of any sum payable to him under subsection (1)(b) above not being paid by such time as may be determined under subsection (2) above for its payment.”
(2)In section 80 of that Act (calculation of Housing Revenue Account subsidy), subsection (2) (negative amounts of subsidy) is omitted.
(3)In Part 2 of Schedule 4 to that Act (amounts to be debited to a local housing authority’s Housing Revenue Account), for item 5 there is substituted—
“Item 5: sums payable under section 80ZASums payable for the year to the Secretary of State, or the National Assembly for Wales, under subsection (1)(b) of section 80ZA of this Act (Housing Revenue Account subsidy of a negative amount) and—
(a)any interest charged on those sums under subsection (4) of that section, and
(b)any amount charged under subsection (5) of that section in respect of costs incurred as a result of late payment of any of those sums.”
(4)In section 141(8) of the Local Government Finance Act 1988 (c. 41) (amounts due from authorities that may be set off against amounts due from Secretary of State or National Assembly for Wales), for “and paragraphs 12 and 15 of that Schedule” there is substituted “ , paragraphs 12 and 15 of that Schedule and section 80ZA of the Local Government and Housing Act 1989 (negative amounts of Housing Revenue Account subsidy and interest and costs where payment made late) ”.
Commencement Information
I1S. 90(1) in force at 18.11.2003 for E. by S.I. 2003/2938, art. 3(a) (with art. 8, Sch.)
I2S. 90(1)-(3) in force at 27.11.2003 for W. for the purpose of and in relation to financial years beginning on or after 1.4.2004 by S.I. 2003/3034, art. 2, Sch. 1 Pt. I