SCHEDULES

[F1 Commutation of future annual grant]E+W

[F26(1)A local authority may make an offer in writing to the person who is for the time being the owner of a house as respects which annual grant is payable under this Part of this Schedule to pay a lump sum in lieu of—E+W

(a)the annual grant payable for the year in which the offer is accepted; and

(b)any further payments of annual grant that would (apart from this paragraph) be payable for the remainder of the period for which the original arrangements under section 46 of the Housing (Financial Provisions) Act 1958 were made.

(2)An owner may accept an offer made under this paragraph by notice in writing to the local housing authority.

(3)Subject to sub-paragraph (4) below, where such an offer is accepted the local housing authority shall pay to the owner a lump sum calculated in such manner as the authority may determine.

(4)A lump sum shall not be paid as respects a house unless the local housing authority are satisfied that the conditions in this Part of this Schedule have been observed throughout the year preceding the date on which the lump sum would otherwise be paid.

(5)On payment of a lump sum under this paragraph to the owner of a house—

(a)no further annual grants under this Part of this Schedule shall be payable in respect of the house; and

(b)the conditions described in this Part of this Schedule shall cease to apply to the house.]