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Housing Act 1974

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This is the original version (as it was originally enacted).

78Contributions by Secretary of State towards grants

(1)The Secretary of State may make a contribution towards the expense incurred by a local authority in making a grant.

(2)The contributions shall be a sum payable annually for a period of 20 years beginning with the financial year in which the works towards the cost of which the grant was made were completed, equal to the relevant percentage of the annual loan charges referable to the amount of the grant.

(3)In subsection (2) above " the relevant percentage" means—

(a)in a case where, on the date on which the application for the grant concerned is approved, the premises to which the application relates are in a general improvement area or a housing action area, 90 per cent., and

(b)in any other case, 75 per cent.

(4)The Secretary of State may by order made with the consent of the Treasury vary either or both of the percentages specified in subsection (3) above, and any such variation shall have effect with respect to applications for grants approved after such date as may be specified in the order.

(5)An order under subsection (4) above—

(a)shall not be made unless a draft thereof has been approved by a resolution of the Commons House of Parliament; and

(b)shall not specify a date earlier than the date of the laying of the draft.

(6)For the purposes of this section "the annual loan charges " referable to the amount of a grant means the annual sum which, in the opinion of the Secretary of State, would fall to be provided by a housing authority for the payment of interest on, and the repayment of, a loan of that amount repayable over a period of 20 years.

(7)In any case where, on the date on which the application for a grant is approved, the premises to which the application relates are in an area declared by the local authority concerned to be a housing action area and, after that date, the Secretary of State notifies the local authority that the area is no longer to be such an area, or that land on which the premises are situated is to be excluded from the area, he may, without prejudice to his discretion under subsection (1) above not to make a contribution under this section, make such a contribution on the basis that the relevant percentage is 75 per cent.

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