Structure of the Act Part 1 - the Homes and Communities Agency Social housing Section 33: interest and successors in title
66.Subsections (1) to (5)provide that the HCA may add interest to sums to be repaid under section 32 and enter into agreements with recipients of grants which include arrangements for sharing equity uplift between the HCA and the recipient. It also has power to suspend or reduce interest. This section replicates the provisions in sections 27(4) and (5) of the Housing Act 1996.
67.Subsections (6) and (7)provide that a person acquiring social housing from the recipient of social housing assistance will also be subject to the HCA’s powers of recovery under section 32. This section replicates section 27(6) of the Housing Act 1996.
68.This section also requires that any determination on the principles of adding interest or entering into an equity sharing agreement have to be made at or before the award of grant funding.