The London Authorities (Transfer of Housing Estates etc.) Order 1973

PART I PAYMENTS TO THE GREATER LONDON COUNCIL

1.  In the year ending on 31st March 1974, a transferee authority shall pay to the Greater London Council by quarterly installments in arrears a sum being the amount of the rents which were receivable by the latter authority on 31st March 1973, less the following amounts:—

(i) the estimated value of rent rebates on 31st March 1973 applicable to the said rents calculated as if the housing accommodation had not been transferred, less the estimated amount which the Greater London Council would have received by way of rent rebate subsidy if the housing accommodation had not been transferred; and

(ii) an amount representing the proportion of “reckonable expenditure” (as determined by the Secretary of State under section 4 of the Housing Finance Act 1972) which would have been attributed in the year ending 31st March 1973 to the costs to the Greater London Council of management and maintenance of the housing accommodation transferred by this order if it had not been so transferred.

2.  In the year ending on 31st March 1975 and in each subsequent year until 31st March 1983 a transferee authority shall pay to the Greater London Council by quarterly installments in arrears a sum being the amount of the rents which would have been receivable by the latter authority on 31st March 1974 if the housing accommodation had not been transferred, less the following amounts:—

(i) the estimated value of rent rebates on 31st March 1974 applicable to the said rents, less the estimated amount which the Greater London Council would have received by way of rent rebate subsidy in the year ending 31st March 1974 if the housing accommodation had not been transferred; and

(ii) an amount representing the proportion of “reckonable expenditure” (as determined by the Secretary of State under section 4 of the Housing Finance Act 1972) which would have been attributed in the year ending 31st March 1974 to the costs to the Greater London Council of management and maintenance of the housing accommodation transferred by this order if it had not been so transferred.

3.  In this Schedule—

references to rents receivable on, and to rent rebates on, 31st March in any year are references to the amount of those rents, or as the case may be of those rent rebates, for the year immediately after the said date;

references to rents, rebates, costs of management and costs of maintenance are references to the rents, rebates or costs in respect of the housing accommodation transferred by article 4 to the transferee authority;

references to rent rebate subsidy are references to the rent rebate subsidy payable under sections 1 and 6 of the Housing Finance Act 1972.

4.  In the calculation of the amount of payments for the purposes of this Schedule, no regard shall be taken of any improvement carried out wholly or partly at the expense of a transferee authority or of any disposal or demolition of housing accommodation transferred.

5.  In the calculation of rent rebates for the purposes of this Schedule, no regard shall be had to any change of tenancy after 31st March 1973

6.  Where a transferee authority takes any action in respect of housing accommodation transferred by article 4 which results in the reduction or withdrawal of any grant or subsidy payable, that authority shall pay to the Greater London Council such sum (whether annually or as a single amount) as may be agreed to represent the value of the grant or subsidy which would have been paid.

7.  After 31st March 1983, a transfered authority shall pay to the Greater London Council such sum as may be agreed to meet the liabilities of the latter authority with respect to the housing accommodation transferred by article 4 to the transferee authority, and any such agreement may include terms as to payment over a period and as to the allocation of any grant or subsidy receivable by the Greater London Council.