Section 427A — Housing Act 1985: Entitlement to subsidy in case of land subject to management agreement.

Entitlement to subsidy in case of land subject to management agreement. 427A 1 The fact that a development corporation . . . has entered into a management agreement, and any letting of land in connection with such an agreement—

a shall be disregarded in determining that corporation's reckonable income or expenditure for the purposes of housing subsidy, and b shall not be regarded as a ground for recovering, withholding or reducing any sum under section 427 (recoupment of housing subsidy).

2 Reference in subsection (1) to a management agreement includes a section 247 or 249 arrangement, as defined by section 250A(6) of the Housing and Regeneration Act 2008.