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Housing (Financial Provisions) (Scotland) Act 1968

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This is the original version (as it was originally enacted).

Accounts

60The housing revenue account

(1)Every local authority shall keep an account (to be called " the housing revenue account") of the income and expenditure of the authority in respect of—

(a)all houses and other buildings which have been provided at any time after 12th February 1919 under—

(i)Part III of the Housing (Scotland) Act 1925, or

(ii)any enactment relating to the provision of housing accommodation for the working classes repealed by that Act, or

(iii)Part V of the Housing (Scotland) Act 1950. or

(iv)Part VII of the principal Act;

(b)all land which at any time after the said date has been acquired or appropriated for the purposes of any of the enactments mentioned or referred to in paragraph (a) of this subsection, or which is deemed to have been acquired under Part III of the said Act of 1925 by virtue of section 15(4) of the Housing (Scotland) Act 1935;

(c)all dwellings in respect of which the Secretary of State has undertaken to make an Exchequer contribution to the local authority under section 35 of the said Act of 1935;

(d)all dwellings provided or improved by the local authority in accordance with improvement proposals approved by the Secretary of State under—

(i)section 2 of the Housing (Scotland) Act 1949. or

(ii)section 105 of the said Act of 1950. or

(iii)section 13 of this Act;

and all land acquired or appropriated by the authority for the purpose of carrying out such proposals ;

(e)all houses approved by the Secretary of State for the purposes of—

(i)section 4 of the Housing (Repairs and Rents) (Scotland) Act 1954, or

(ii)section 19 of this Act;

(f)such other houses as the local authority with the consent of the Secretary of State may from time to time determine.

(2)Where a house is for the time being vested in a local authority by reason of the default of any person in carrying out the terms of any arrangements under which assistance in respect of the provision, reconstruction or improvement of the house has been given under any enactment relating to housing, the house shall be deemed for the purposes of subsection (1) of this section to be a house which has been provided by the authority under Part VII of the principal Act.

(3)Notwithstanding subsection (1) of this section, a building provided or converted for use as a hostel or as part of a hostel and approved by the Secretary of State for the purposes of section 27(1) of the Housing (Scotland) Act 1949 or section 89(1) of the Housing (Scotland) Act 1950 or section 21(1) of this Act shall not be included amongst the buildings in respect of which the local authority are required by subsection (1) of this section to keep a housing revenue account:

Provided that if at any time the Secretary of State is satisfied that the building has ceased to be used as a hostel or as part of a hostel he may direct that it shall be so included.

(4)The provisions of Schedule 7 to this Act shall have effect as respects the keeping by a local authority of the housing revenue account.

61The housing repairs account

(1)Subject to the provisions of this section, every local authority shall for the purpose of equalising so far as practicable the annual charge to their revenue in respect of the repair, improvement and maintenance of houses, buildings and dwellings in respect of which the housing revenue account is to be kept, keep an account (to be called " the housing repairs account") and shall in each financial year carry to the credit of that account from the housing revenue account in respect of each house, building and dwelling such amount as they may think proper, not being less than eight pounds, and such amount, if any, as may be necessary to make good any deficit shown in the housing repairs account at the end of the last preceding financial year.

(2)Subject to the provisions of this Act, moneys standing to the credit of the housing repairs account shall be applied only in meeting expenses incurred in respect of the repair, improvement and maintenance of the houses, buildings and dwellings in respect of which the housing revenue account is to be kept.

(3)If at any time it appears to the Secretary of State, after consultation with the local authority, that the moneys standing to the credit of the housing repairs account are more than sufficient for the purposes for which the account is to be kept or that it is no longer necessary for the account to be kept, he may give such directions as he thinks proper for the reduction of the amounts to be credited to the account or the suspension of the carrying of credits thereto, or for the closing of the account and the application of any moneys standing to the credit thereof, as the case may be.

62The housing equalisation account

(1)Every local authority shall, if they think it desirable for the purpose of equalising the income of the housing revenue account derived from Exchequer contributions payable to them under any of the enactments mentioned in Schedule 8 to this Act over any period during which loan charges required to be debited to the housing revenue account will be payable, keep an account (to be called " the housing equalisation account") and shall, if they keep such an account, carry to the credit of that account from the housing revenue account such sums, and shall apply an amount equal to the sums so credited in such manner, as may be prescribed.

(2)Where a local authority close their housing equalisation account, they shall carry to the credit of their housing revenue account any sums standing to the credit of their housing equalisation account when it is closed.

63Temporary application of moneys in housing accounts

(1)An amount equal to any moneys standing to the credit of the housing repairs account or the housing equalisation account of a local authority, and not for the time being required for the purposes for which they will ultimately be applicable, may be used by the authority for the purpose of any statutory borrowing power possessed by them subject to the conditions specified in subsection (2) of this section, and so far as not so used shall be invested temporarily in any security in which trustees are for the time being authorised by law to invest, and an amount equal to the income from such investment shall be credited to the account.

(2)The conditions subject to which moneys may be used as mentioned in subsection (1) of this section shall be the following, that is to say—

(a)the moneys so used shall be repaid to the account out of the county or burgh fund within the period, and by methods, within and by which a loan raised under the statutory borrowing power would be repayable:

Provided that the local authority shall repay to the account the moneys so used or the balance thereof for the time being outstanding, as the case may be, as and when required for the purposes of the account, and may make such repayment at any time within the period aforesaid, and in either case the repayment shall be made out of the said fund or out of moneys which would have been applicable to the repayment of a loan if raised under the statutory borrowing power;

(b)in the accounts of the county or burgh fund an amount equal to interest (calculated at such rate as may be determined by the local authority to be equal as nearly as may be to the rate of interest which would be payable on a loan raised under the statutory borrowing power) on any moneys so used shall be credited to the account and debited to the branch of expenditure for the purpose for which the moneys are so used ;

(c)the statutory borrowing power shall be deemed to be exercised by such use as fully in all respects as if a loan of the same amount had been raised in exercise of the power, and the provisions of any enactment as to the re-borrowing of sums raised under the statutory borrowing power shall apply accordingly.

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