PART 5

HOUSING FINANCE

Payments in relation to Housing Revenue Accounts

Settlement payments
132
1
The Welsh Ministers may make a determination providing for the calculation of the amount of a payment in relation to each local housing authority that keeps a Housing Revenue Account.
2
A payment of the type mentioned in subsection (1) is referred to in this Part as a “settlement payment”.
3
A determination under this section may provide for all or part of the amount to be calculated in accordance with a formula or formulae.
4
In determining a formula for this purpose, the Welsh Ministers may include variables framed by reference to such matters as they consider appropriate.
5
A determination under this section may provide that the effect of the calculation in relation to a local housing authority is that—
a
a settlement payment must be made by the Welsh Ministers to the local housing authority,
b
a settlement payment must be made by the local housing authority to the Welsh Ministers, or
c
the amount of a settlement payment in relation to that authority is nil.
6
Subsections (3), (4) and (5) do not limit the generality of the power conferred by subsection (1).