Part 4: Social Housing in England Chapter 4: Reducing Regulation of Social Housing Etc Part 3 - Removal of the Disposal Proceeds Fund
Existing legislation (the Housing and Regeneration Act 2008) required private registered providers of social housing to hold a Disposal Proceeds Fund to record proceeds (including historic grant) from certain sales of social housing stock. Money in the Disposals Proceeds Fund may be spent only as directed by the Regulator. If any private registered provider is unable to reinvest the funds within the period specified by the Regulator it must return the funds to the Homes and Communities Agency or the Greater London Authority.
	Paragraphs 32 and 33 abolish the requirement for private registered providers to hold a Disposal Proceeds Fund. As a transitional measure, any funds in a Disposal Proceeds Fund at the point of commencement of this legislation must still be applied only as directed by the Regulator.
	After commencement of this provision historic grant which would now go into the Disposal Proceeds Fund will be recycled in accordance with the terms of any grant agreement.