PART 5HOUSING FINANCE

Housing Revenue Account subsidy

131Abolition of Housing Revenue Account subsidy

I21

This section provides for the abolition of the subsidy payable in relation to the Housing Revenue Accounts of local housing authorities under the Local Government and Housing Act 1989.

I22

That Act is amended as follows.

I23

In Part 6 (Housing Finance)—

a

omit section 79 (Housing Revenue Account subsidy);

b

omit section 80 (calculation of Housing Revenue Account subsidy);

c

omit section 80ZA (negative amounts of subsidy payable to appropriate person);

d

omit section 80A (final decision on amount of Housing Revenue Account subsidy);

e

omit section 80B (agreements to exclude certain authorities or property);

f

omit section 85 (power to obtain information);

g

omit section 86 (recoupment of subsidy in certain cases).

4

In Schedule 4 (the keeping of the Housing Revenue Account)—

I2a

in Part 1 (credits to the Account), omit Item 3 (Housing Revenue Account subsidy);

I2b

in Part 2 (debits to the Account), omit Item 5 (sums payable under section 80ZA);

I1c

in Part 3 (special cases), omit paragraph 2 (credit balance where no HRA subsidy payable) and the heading immediately before it.