- Y Diweddaraf sydd Ar Gael (Diwygiedig)
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New Towns Act 1981
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Rhagor o Adnoddau
Changes to legislation:
New Towns Act 1981, Section 58 is up to date with all changes known to be in force on or before 03 June 2024. There are changes that may be brought into force at a future date. Changes that have been made appear in the content and are referenced with annotations.
Changes to Legislation
Revised legislation carried on this site may not be fully up to date. Changes and effects are recorded by our editorial team in lists which can be found in the ‘Changes to Legislation’ area. Where those effects have yet to be applied to the text of the legislation by the editorial team they are also listed alongside the legislation in the affected provisions. Use the ‘more’ link to open the changes and effects relevant to the provision you are viewing.
Changes and effects yet to be applied to the whole Act associated Parts and Chapters:
Whole provisions yet to be inserted into this Act (including any effects on those provisions):
- s. 1A(1) omitted by 2023 c. 55 Sch. 16 para. 7(3)
- s. 1A(2) omitted by 2023 c. 55 Sch. 16 para. 7(3)
- s. 1A(4) word inserted by 2023 c. 55 Sch. 16 para. 7(4)(b)
- s. 1A(4) words substituted by 2023 c. 55 Sch. 16 para. 7(4)(a)
- s. 1A(5)(a) words substituted by 2023 c. 55 Sch. 16 para. 7(5)(a)
- s. 1ZA 1ZB inserted by 2023 c. 55 s. 172(2)
- s. 2(1A) inserted by 2023 c. 55 Sch. 16 para. 8
- s. 3(2B)-(2D) inserted by 2023 c. 55 s. 172(3)(c)
- s. 3(2ZA)(2ZB) inserted by 2023 c. 55 s. 178(2)(b)
- s. 7A 7B inserted by 2023 c. 55 s. 175(2)
- s. 60(1A) inserted by 2023 c. 55 s. 179(2)(b)
- s. 77(3E) inserted by 2023 c. 55 Sch. 17 para. 1(3)
- Sch. 3 para. 10A 10B and cross-heading inserted by 2023 c. 55 s. 175(3)
58 Advances and grants to development corporations F1....E+W
(1)For the purpose of enabling a development corporation—
(a)to meet expenditure properly chargeable to capital account (including the provision of working capital), or
(b)to make good to revenue account sums applied in meeting liabilities so chargeable,
the Secretary of State may (subject to section 60 below) make to the corporation advances repayable over such periods [F2, carrying interest at such rates and on such other terms] as may be approved by the Treasury.
(2). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . F3
(3)It shall be a condition of the making of advances to a development corporation under subsection (1) above that the proposals for development submitted to the Secretary of State under section 7 above shall be approved by the Secretary of State with the Treasury’s concurrence as being likely to secure for the corporation a return which is reasonable, having regard to all the circumstances, when compared with the cost of carrying out those proposals.
(4). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . F3
F4(5). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
F5(6). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Textual Amendments
F1Words in s. 58 heading repealed (1.4.2009) by Housing and Regeneration Act 2008 (c. 17), s. 325(1), Sch. 5 para. 10(2), Sch. 16; S.I. 2009/803, arts. 3(1), 10
F2Words substituted by New Towns and Urban Development Corporations Act 1985 (c. 5, SIF 123:3, 4), s. 14(1), Sch. 3 para. 8
F3S. 58(2)(4) repealed by New Towns and Urban Development Corporations Act 1985 (c. 5, SIF 123:3, 4), s. 14(2), Sch. 4
F4S. 58(5) repealed (1.4.2009) by Housing and Regeneration Act 2008 (c. 17), s. 325(1), Sch. 5 para. 10(3), Sch. 16; S.I. 2009/803, arts. 3(1), 10
F5S. 58(6) repealed (1.4.2009) by Housing and Regeneration Act 2008 (c. 17), s. 325(1), Sch. 5 para. 10(3), Sch. 16; S.I. 2009/803, arts. 3(1), 10
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