The Local Authorities (Capital Finance and Accounting) (England) Regulations 2003, Paragraph 1 is up to date with all changes known to be in force on or before 06 March 2025. There are changes that may be brought into force at a future date. Changes that have been made appear in the content and are referenced with annotations.
[F11.—(1) This Schedule applies to capital receipts derived from dwellings disposed of by the local authority on or after 1st April 2012—E+W
(a)under Part V of the Housing Act 1985;
(b)to a secure tenant for an amount that is less than the market value of the dwelling; or
(c)by a grant of a shared ownership lease to a tenant of the local authority where—
(i)a premium (which is a portion of the market value of the disposed dwelling) was paid and that portion exceeded 50% of the market value of the disposed dwelling; or
(ii)within 2 years of the grant of the shared ownership lease, a premium is paid to acquire a further portion of the disposed dwelling so that the total portion of the market value of the disposed dwelling owned by the tenant is more than 50%.
(2) This Schedule does not apply to capital receipts derived from the disposal of dwellings that are the subject of an agreement made under section 80B of the Local Government and Housing Act 1989.]
Textual Amendments
F1Sch. substituted (1.4.2013) by The Local Authorities (Capital Finance and Accounting) (England) (Amendment) Regulations 2013 (S.I. 2013/476), regs. 1(3), 4, Sch. (with reg. 7)
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