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<p>Section 74(1) of the Local Government and Housing Act 1989 requires local housing
authorities to keep a Housing Revenue Account (HRA) if they provide homes under Part
II of the Housing Act 1985, subject to a direction by the Secretary of State. This
means that any homes a local authority provides under Part II, including those for
market rent or sale, should sit within the Housing Revenue Account unless the Secretary
of State issues a direction to exclude them. Whilst no direction has been made for
homes for market rent or market sale, we do not believe that local authorities routinely
use their HRA to hold such homes.</p>
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