Part 2Scheme of assistance for housing purposes
Miscellaneous and supplementary
I191Local authority payments to not for profit lenders
1
A local authority may make payments to a designated lender for the purposes of enabling or assisting the lender to lend sums to individuals to assist them with—
a
the acquisition or sale (or the proposed acquisition or sale) of a house, or
b
work on any land or any premises for any of the purposes mentioned in section 71(2).
2
A designated lender is an organisation which—
a
carries on a business providing such assistance, and
b
does not carry on that business for profit.
3
Payments made under subsection (1) may be subject to such terms as the authority thinks fit.
4
Those terms may include—
a
terms as to repayment,
b
terms restricting the terms on which the designated lender lends sums to individuals.
5
The Scottish Ministers may, by regulations—
a
amend the definition of “designated lender” in subsection (2),
b
make provision as to the terms which may be imposed under subsection (3) (including provision restricting or requiring the imposition of a term).