Citation, commencement, application and interpretation (of the 2003 Regulations)
4. In regulation 1(5)—
(a)omit the definitions of “available Social HomeBuy allowance” and “Social HomeBuy disposal”;
(b)after the definition of “the National Association of Local Councils” insert—
““notifiable allowance” means the amount notified by the local authority to the Secretary of State in compliance with regulation 3 of the Local Authorities (Capital Finance and Accounting) (England) (Amendment) (No.2) Regulations 2012(1);
“poolable amount” means the sum of the specified amounts calculated from capital receipts received by the local authority in the quarter and the sub-liability calculated for the quarter;”;
(c)after the definition of “qualifying disposal” insert—
““quarter” means one of the following periods—
1st April to 30th June
1st July to 30th September
1st October to 31st December
1st January to 31st March;”;
(d)after the definition of “relevant disposal period” insert—
““relevant quarter” means the quarter in respect of which payment under regulation 12 must be made on the next due date;”;
(e)after the definition of “secure tenant” insert—
““shared ownership lease” means a lease of a dwelling granted on payment of a premium calculated by reference to a percentage of the market value of the dwelling;”;
(f)after the definition of “the Society of Local Council Clerks” insert—
““specified amount” means the amount calculated in accordance with regulation 14;
“sub-liability” means the amount calculated in accordance with in paragraph 9 of the Schedule; and
“the 2011-2012 buy back reduction” means the amount calculated in compliance with regulation 3 of the Local Authorities (Capital Finance and Accounting) (England) (Amendment) (No 2) Regulations 2012.”.