Section 55 of The Housing Act 1988 introduced the requirement that surpluses arising from registered housing associations' increased rental income on pre-1988 grant funded stock should be shown separately in their accounts, in a fund to be known as the Rent Surplus Fund (RSF), and that the balances in that fund might be repayable on demand.
Schedule 11 of the Housing Act 2004 abolishes Rent Surplus Fund with effect from 18 January 2005.
This circular announces the end of RSF and sets out what associations should do with any balances accumulated in their RSF restricted reserve.