F1Part III
27F2 Power to give assistance.
1
The Secretary of State may, with the consent of the Treasury, give financial assistance to any person in respect of expenditure incurred in connection with activities contributing to the regeneration of an urban area.
2
Activities contributing to the regeneration of an urban area include in particular—
a
securing that land and buildings are brought into effective use;
b
developing, or encouraging the development of, existing and new industry and commerce;
c
creating an attractive and safe environment;
d
providing housing or social and recreational facilities so as to encourage people to live or work in the area;
e
providing employment for people who live in the area;
f
providing training, educational facilities or health services for people who live in the area.
28 Forms of assistance.
1
Financial assistance under section 27 may be given in any form.
2
Assistance may, in particular, be given by way of—
a
grants,
b
loans,
c
guarantees, or
d
incurring expenditure for the benefit of the person assisted.
3
The Secretary of State shall not in giving financial assistance under section 27 purchase loan or share capital in a company.
29 Terms on which assistance is given.
1
Financial assistance under section 27 may be given on such terms as the Secretary of State, with the consent of the Treasury, considers appropriate.
2
The terms may, in particular, include provision as to—
a
circumstances in which the assistance must be repaid, or otherwise made good, to the Secretary of State, and the manner in which that is to be done ; or
b
circumstances in which the Secretary of State is entitled to recover the proceeds of part of the proceeds of any disposal of land or buildings in respect of which assistance was provided.
3
The person receiving assistance shall comply with the terms on which it is given and compliance may be enforced by the Secretary of State.
Pt. III (ss. 27-29) repealed (24.9.1996) by 1996 c. 53, ss. 147, 150(2), Sch. 3 Pt. III