The Local Authorities (Capital Finance) Regulations 1997

Amounts set aside—advances to housing associations

128.  In determining their adjusted credit ceiling at any time, a local authority shall disregard any reduction in their credit ceiling which results from the setting aside under section 59(1) of the reserved part of a sum received which is a capital receipt by virtue of section 58(1) (c) or (d), and is paid in respect of an advance made by the authority on or before 30th September 1989—

(a) to a housing association (within the meaning given to that expression in section 1 of the Housing Associations Act 1985(1)); and

(b) for the purposes of expenditure in respect of which the association in question received a grant under section 50 of the Housing Act 1988(2), section 41(1) of the Housing Associations Act 1985(3) or section 29(1) of the Housing Act 1974(4).

(1)

1985 c. 69.

(2)

1988 c. 50.

(3)

Section 41 was repealed by section 140(2) of, Schedule 18 to, the Housing Act 1988.

(4)

1974 c. 44 Section 29 was repealed by section 3 of, and Schedule 1 to, the Housing (Consequential Provisions) Act 1985 (c. 71).