Housing Associations Act 1985

Part III E+W+S The Housing Corporation

Modifications etc. (not altering text)

C1 Pt. III (ss. 74-102) excluded (E.W.) (1.10.1996) by 1996 c. 52, s. 7, Sch. 1 para. 15(6); S.I. 1996/2402, art. 3 (subject to transitional provisions and savings in Sch.)

Constitution and other general matters E+W+S

74 The Housing Corporation. E+W

(1) This Part has effect with respect to the Housing Corporation [F1 and the Secretary of State

(1A) Each of them] is referred to in this part as “the [F2 Relevant Authority]”.

(2) [F3 The provisions of Schedule 6 have effect with respect to the constitution and proceedings of, and other matters relating to, [F4 the Housing Corporation].]

[F5 (3) The functions conferred by this Part in relation to registered social landlords are exercisable by the [F2 Relevant Authority] in whose register they are registered.

As to which [F2 Relevant Authority] that is, see section 56 of the Housing Act 1996.]

[F6 (4) In this Part,—

(a) in relation to land in Wales held by an unregistered housing association, “the [F2 Relevant Authority]” means [F7 the Secretary of State]; and

(b) in relation to land outside Wales held by such an association, “the [F2 Relevant Authority]” means the Housing Corporation.]

Extent Information

E1 This version of this provision extends to England and Wales only; a separate version has been created for Scotland only

Textual Amendments

F1 Words in s. 74(1) substituted (1.11.1998) by 1998 c. 38, s. 140, Sch. 16 para. 29(2) (with ss. 139(2), 143(2)); S.I. 1998/2244, art. 5

F2 Words in Pt. III (ss. 74-102) substituted (1.11.1998) by 1998 c. 38, s. 140, Sch. 16 para. 28(a) (with ss. 139(2), 143(2)); S.I. 1998/2244, art. 5

F3 S. 74(2) repealed (E.W.) (1.4.2009) by The Housing Corporation (Dissolution) Order 2009 (S.I. 2009/484), art. 1(3), Sch. 1 para. 2, Sch. 2 (with Sch. 1 para. 12)

F4 Words substituted by Housing Act 1988 (c. 50, SIF 61), s. 59(2)(3)(4), Sch. 6 Pt. III para. 31(2)

F5 S. 74(3) substituted (1.10.1996) by S.I. 1996/2325, art. 5(1), Sch. 2 para. 15(25)

F6 S. 74(4) inserted by Housing Act 1988 (c. 50, SIF 61), s. 59(2)(3)(4), Sch. 6 Pt. III para. 31(3)

F7 Words in s. 74(4)(a) substituted (1.11.1998) by 1998 c. 38, s. 140, Sch. 16 para. 29(3) (with ss. 139(2), 143(2)); S.I. 1998/2244, art. 5

Modifications etc. (not altering text)

C2 S. 74 modified (E.W.) (1.12.2008) by The Transfer of Housing Corporation Functions (Modifications and Transitional Provisions) Order 2008 (S.I. 2008/2839), arts. 1(1), 3, Sch. para. 3 (with art. 6, Sch. para. 3(4)) (see S.I. 2008/3068, art. 2(1)(b))

75 General functions of the [F8 Relevant Authority]. E+W

(1) The [F8 Relevant Authority] has the following general functions—

[F9 (a) to facilitate the proper performance of the functions of registered social landlords;

(b) to maintain a register of social landlords and to exercise supervision and control over such persons;

(c) to promote and assist the development of self-build societies (other than registered social landlords) and to facilitate the proper performance of the functions, and to publicise the aims and principles, of such societies;]

(d) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . F10

(e) to undertake, to such extent as the [F8 Relevant Authority] considers necessary, the provision (by construction, acquisition, conversion, improvement or otherwise) of dwellings for letting or for sale and of hostels, and the management of dwellings or hostels so provided.

F11 F12 [(f)] . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

[F13 (1A) The Housing Corporation also has the general function of providing, on request, to such extent as the Housing Corporation considers appropriate, advice and assistance to the Audit Commission for Local Authorities and the National Health Service in England F14 ... in relation to the functions of the Commission mentioned in subsection (1B).

(1B) The functions referred to in subsection (1A) are the functions of the Commission under Part 1 of the Local Government Act 1999 (best value)F15 ....]

(2) The [F8 Relevant Authority] shall exercise its general functions subject to and in accordance with the provisions of this Act [F16 and Part I of the Housing Act 1996].

(3) Subsection (1) is without prejudice to specific functions conferred on the [F8 Relevant Authority]by or under this Act [F17 or Part I of the Housing Act 1996].

(4) The [F8 Relevant Authority] may do such things and enter into such transactions as are incidental to or conducive to the exercise of any of its functions, general or specific, under this Act [F17 or Part I of the Housing Act 1996].

F18 (5) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

[F19 (6) For the purposes of subsections (1)(c) and (e) and (4) “the Relevant Authority” means the Welsh Ministers only.]

Extent Information

E2 This version of this provision extends to England and Wales only; a separate version has been created for Scotland only

Textual Amendments

F8 Words in Pt. III (ss. 74-102) substituted (1.11.1998) by 1998 c. 38, s. 140, Sch. 16 para. 28(a) (with ss. 139(2), 143(2)); S.I. 1998/2244, art. 5

F9 S. 75(1)(a)-(c) substituted (1.10.1996) by 1996 c. 52, s. 55(1), Sch. 3 para. 5; S.I. 1996/2402, art. 3 (with transitional provisions and savings in Sch.)

F10 Ss. 41–51, 75(1)(d) repealed by Housing Act 1988 (c. 50, SIF 61), s. 140(2), Sch. 18

F11 S. 75(1)(f) repealed (1.4.2005) by Public Audit (Wales) Act 2004 (c. 23), s. 73, Sch. 2 para. 5(2), Sch. 4; S.I. 2005/558, art. 2, Sch. 1

F12 S. 75(1)(f) inserted (27.9.1999 for E. for certain purposes and 1.10.1999 for W. otherwise 27.7.2000) by 1999 c. 27, ss. 22(7), 27(2); S.I. 1999/2169, art. 3(2), Sch. 2; S.I. 1999/2815, art. 2

F13 S. 75(1A)(1B) inserted (1.4.2005) by Public Audit (Wales) Act 2004 (c. 23), s. 73, Sch. 2 para. 5(3); S.I. 2005/558, art. 2, Sch. 1

F14 Words in s. 75(1A) repealed (1.4.2008) by Local Government and Public Involvement in Health Act 2007 (c. 28), s. 245(5), Sch. 9 para. 1(2)(d), Sch. 18 Pt. 9; S.I. 2008/172, art. 4(a)(n)(i)

F15 Words in s. 75(1B) repealed (1.4.2008) by Local Government and Public Involvement in Health Act 2007 (c. 28), s. 245(5), Sch. 8 para. 23, Sch. 18 Pt. 8; S.I. 2008/917, art. 2(1)(e)(i)(v)

F16 Words in s. 75(2) inserted (1.10.1996) by S.I. 1996/2325, art. 5(1), Sch. 2 para. 15(26)(a)

F17 Words in s. 75(3)(4) inserted (1.10.1996) by S.I. 1996/2325, art. 5(1), Sch. 2 para. 15(26)(b)

F18 S. 75(5) repealed (2.4.2001) by 2000 c. 34, s. 9(2), Sch. 3 (with s. 10(5)), S.I. 2001/566, art. 2

F19 S. 75(6) inserted (E.W.) (1.4.2009) by The Housing Corporation (Dissolution) Order 2009 (S.I. 2009/484), art. 1(3), Sch. 1 para. 3 (with Sch. 1 para. 12)

Modifications etc. (not altering text)

C3 S. 75: transfer of functions (1.12.2008) by The Transfer of Housing Corporation Functions (Modifications and Transitional Provisions) Order 2008 (S.I. 2008/2839), arts. 1(1), 2 (see S.I. 2008/3068, art. 2(1)(b))

C4 S. 75(1A) modified (E.W.) (1.12.2008) by The Transfer of Housing Corporation Functions (Modifications and Transitional Provisions) Order 2008 (S.I. 2008/2839), arts. 1(1), 3, Sch. para. 3 (with art. 6) (see S.I. 2008/3068, art. 2(1)(b))

76 Directions by the Secretary of State. E+W+S

(1) The Secretary of State may give directions to the [F20 Housing Corporation] as to the exercise of its functions.

(2) A direction as to the terms of loans made under section 79 (lending powers of [F20 Housing Corporation]) requires the consent of the Treasury.

(3) Directions may be of a general or particular character and may be varied or revoked by subsequent directions.

(4) Non-compliance with a direction does not invalidate a transaction between a person and the [F20 Housing Corporation] unless the person had actual notice of the direction.

Textual Amendments

F20 Words in s. 76(1)(2)(4) substituted (1.11.1998) by 1998 c. 38, s. 140, Sch. 16 para. 31 (with ss. 139(2), 143(2)); S.I. 1998/2244, art. 5

Modifications etc. (not altering text)

C5 S. 76 modified (E.W.) (1.12.2008) by The Transfer of Housing Corporation Functions (Modifications and Transitional Provisions) Order 2008 (S.I. 2008/2839), arts. 1(1), 3, Sch. para. 3 (with art. 6) (see S.I. 2008/3068, art. 2(1)(b))

[F21 76A Realisation of value of [F22 Housing Corporation’s] loans portfolio. E+W

F23 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .]

Textual Amendments

F21 S. 76A inserted (E.W.) (1.10.1996) by 1996 c. 52, s. 55(1), Sch. 3 para. 6; S.I. 1996/2402, art. 3 (with transitional provisions and savings in Sch.)

F22 Words in s. 76A heading substituted (1.11.1998) by 1998 c. 38, s. 140, Sch. 16 para. 32(3) (with ss. 139(2), 143(2)); S.I. 1998/2244, art. 5

F23 S. 76A repealed (E.W.) (1.4.2009) by The Housing Corporation (Dissolution) Order 2009 (S.I. 2009/484), art. 1(3), Sch. 1 para. 4, Sch. 2 (with Sch. 1 para. 12)

77 Advisory service. E+W

(1) The [F24 Relevant Authority] may provide an advisory service for the purpose of giving advice on legal, architectural and other technical matters to [F25 registered social landlords or unregistered housing associations] and to persons who are forming a housing association or are interested in the possibility of doing so.

(2) The [F24 Relevant Authority] may make charges for the service.

[F26 (3) The powers conferred on the [F24 Relevant Authority] by subsections (1) and (2) may be exercised by the Housing Corporation and [F27 the Secretary of State] acting jointly]

Extent Information

E3 This version of this provision extends to England and Wales only; a separate version has been created for Scotland only

Textual Amendments

F24 Words in Pt. III (ss. 74-102) substituted (1.11.1998) by 1998 c. 38, s. 140, Sch. 16 para. 28(a) (with ss. 139(2), 143(2)); S.I. 1998/2244, art. 5

F25 Words in s. 77(1) substituted (1.10.1996) by S.I. 1996/2325, art. 5(1), Sch. 2 para. 15(27)

F26 S. 77(3) added by Housing Act 1988 (c. 50, SIF 61), s. 59(2)(3)(4), Sch. 6 Pt. III para. 33

F27 Words in s. 77(3) substituted (1.11.1998) by 1998 c. 38, s. 140, Sch. 16 para. 33 (with ss. 139(2), 143(2)); S.I. 1998/2244, art. 5

Modifications etc. (not altering text)

C6 S. 77 modified (E.W.) (1.12.2008) by The Transfer of Housing Corporation Functions (Modifications and Transitional Provisions) Order 2008 (S.I. 2008/2839), arts. 1(1), 3, Sch. para. 3 (with art. 6) (see S.I. 2008/3068, art. 2(1)(b))

C7 S. 77: transfer of functions (E.W.) (1.12.2008) by The Transfer of Housing Corporation Functions (Modifications and Transitional Provisions) Order 2008 (S.I. 2008/2839), arts. 1(1), 2 (see S.I. 2008/3068, art. 2(1)(b))

78 Annual report. E+W+S

[F28 (1) The [F29 Housing Corporation] shall, as soon as possible after the end of each financial year, make a report to the Secretary of State on the exercise of its functions during the year.

(2) It shall include in the report a copy of its audited accounts and shall set out in the report any directions given to it by the Secretary of State during the year.

(3) The Secretary of State shall lay a copy of the report before each House of Parliament.]

Textual Amendments

F28 S. 78 repealed (E.W.) (1.4.2009) by The Housing Corporation (Dissolution) Order 2009 (S.I. 2009/484), art. 1(3), Sch. 1 para. 5, Sch. 2 (with Sch. 1 para. 12)

F29 Words in s. 78(1) substituted (1.11.1998) by 1998 c. 38, s. 140, Sch. 16 para. 34 (with ss. 139(2), 143(2)); S.I. 1998/2244, art. 5

Modifications etc. (not altering text)

C8 S. 78(1)(2) modified (1.11.1998) by 1998 c. 38, s. 142(2) (with ss. 139(2), 143(2)); S.I. 1998/2244, art. 5

C9 S. 78(3) applied (1.11.1998) by 1998 c. 38, s. 142(4) (with ss. 139(2), 143(2)); S.I. 1998/2244, art. 5

[F30 Relevant Authority’s] powers with respect to grants and loans E+W+S

Textual Amendments

F30 Words in Pt. III (ss. 74-102) substituted (1.11.1998) by 1998 c. 38, s. 140, Sch. 16 para. 28(a) (with ss. 139(2), 143(2)); S.I. 1998/2244, art. 5

79 Lending powers. E+W+S

[F31 (1) The Relevant Authority may lend to a registered social landlord or an unregistered self-build society, and the Housing Corporation may lend to any of its subsidiaries or to any other body in which it holds an interest, for the purpose of enabling the body to meet the whole or part of expenditure incurred or to be incurred by it in carrying out its objects.

(2) The Relevant Authority may lend to an individual for the purpose of enabling him to acquire from—

(a) the Relevant Authority, or

(b) any body to which the Relevant Authority may lend under subsection (1),

a legal estate or interest in a dwelling which he intends to occupy.]

(3) A loan under this section may be by way of temporary loan or otherwise, and the terms of a loan made under subsection (1) may include (though the terms of a loan made under subsection (2) may not) terms for preventing repayment of the loan or part of it before a specified date without the consent of the [F32 Relevant Authority].

(4) The terms of a loan under this section shall, subject to subsection (3) and [F33 (in the case of a loan by the Housing Corporation)]to any direction under section 76 (general power of Secretary of State to give directions), be such as the [F32 Relevant Authority] may determine, either generally or in a particular case.

Textual Amendments

F31 S. 79(1)(2) substituted (1.11.1998) by 1998 c. 38, s. 140, Sch. 16 para. 35(2) (with ss. 139(2), 143(2)); S.I. 1998/2244, art. 5

F32 Words in Pt. III (ss 74-102) substituted (1.11.1998) by 1998 c. 38, s. 140, Sch. 16 para. 28(a) (with ss. 139(2), 143(2)); S.I. 1998/2244, art. 5

F33 Words in s. 79(4) inserted (1.11.1998) by 1998 c. 38, s. 140, Sch. 16 para. 35(3) (with ss. 139(2), 143(2)); S.I. 1998/2244, art. 5

Modifications etc. (not altering text)

C10 S. 79: transfer of functions (E.W.) (1.12.2008 for specified purposes) by The Transfer of Housing Corporation Functions (Modifications and Transitional Provisions) Order 2008 (S.I. 2008/2839), arts. 1(1), 2 (see S.I. 2008/3068, art. 2(1)(b))

C11 S. 79 modified (E.W.) (1.12.2008) by The Transfer of Housing Corporation Functions (Modifications and Transitional Provisions) Order 2008 (S.I. 2008/2839), arts. 1(1), 3, Sch. para. 3 (with art. 6) (see S.I. 2008/3068, art. 2(1)(b))

80 Security for loans to unregistered self-build societies. E+W+S

(1) Where the [F34 Relevant Authority]—

(a) makes a loan to an unregistered self-build society under section 79(1); and

(b) under a mortgage or heritable security entered into by the society to secure the loan has an interest as mortgagee or creditor in land belonging to the society,

it may F35 . . . give the society directions with respect to the disposal of the land.

(2) The society shall comply with directions so given so long as the [F34 Relevant Authority] continues to have such an interest in the land.

(3) Directions so given may be varied or revoked by subsequent directions F36 . . ..

[F37 (3A) The written consent of the Secretary of State is required for the giving, varying or revoking of directions by the Housing Corporation.]

(4) The Secretary of State shall not [F38 give directions under this section requiring a society to transfer its interest in land to him or any other person, and shall not consent to the Housing Corporation’s giving such directions requiring a society to transfer its interest in land to the Housing Corporation or] any other person, unless he is satisfied that arrangements have been made which will secure that the members of the society receive fair treatment in connection with the transfer.

Textual Amendments

F34 Words in Pt. III (ss. 74-102) substituted (1.11.1998) by 1998 c. 38, s. 140, Sch. 16 para. 28(a) (with ss. 139(2), 143(2)); S.I. 1998/2244, art. 5

F35 Words in s. 80(1) repealed (1.11.1998) by 1998 c. 38, ss. 140, 152, Sch. 16 para. 36(2), Sch. 18 Pt. VI (with ss. 137(1), 139(2), 141(1), 143(2)); S.I. 1998/2244, art. 5

F36 Words in s. 80(3) repealed (1.11.1998) by 1998 c. 38, ss. 140, 152, Sch. 16 para. 36(3), Sch. 18 Pt. VI (with ss. 137(1), 139(2), 141(1), 143(2)); S.I. 1998/2244, art. 5

F37 S. 80(3A) inserted (1.11.1998) by 1998 c. 38, s. 140, Sch. 16 para. 36(4) (with ss. 139(2), 143(2)); S.I. 1998/2244, art. 5

F38 Words in s. 80(5) substituted (1.11.1998) by 1998 c. 38, s. 140, Sch. 16 para. 36(5) (with ss. 139(2), 143(2)); S.I. 1998/2244, art. 5

Modifications etc. (not altering text)

C12 S. 80: transfer of functions (E.W.) (1.12.2008) by The Transfer of Housing Corporation Functions (Modifications and Transitional Provisions) Order 2008 (S.I. 2008/2839), arts. 1(1), 2 (see S.I. 2008/3068, art. 2(1)(b))

C13 S. 80 modified (E.W.) (1.12.2008) by The Transfer of Housing Corporation Functions (Modifications and Transitional Provisions) Order 2008 (S.I. 2008/2839), arts. 1(1), 3, Sch. para. 3 (with art. 6) (see S.I. 2008/3068, art. 2(1)(b))

81 Further advances in case of disposal on shared ownership lease. E+W

Where—

(a) a lease of a dwelling, granted otherwise than in pursuance of the provisions of Part V of the M1 Housing Act 1985 (the right to buy) relating to shared ownership leases, contains a provision to the like effect as that required by paragraph 1 of Schedule 8 to that Act (terms of shared ownership lease: right of tenant to acquire additional shares), and

(b) the [F39 Relevant Authority]has, in exercise of any of its powers, left outstanding or advanced any amount on the security of the dwelling,

that power includes power to advance further amounts for the purpose of assisting the tenant to make payments in pursuance of that provision.

Textual Amendments

F39 Words in Pt. III (ss. 74-102) substituted (1.11.1998) by 1998 c. 38, s. 140, Sch. 16 para. 28(a) (with ss. 139(2), 143(2)); S.I. 1998/2244, art. 5

Modifications etc. (not altering text)

C14 S. 81 modified (1.12.2008) by The Transfer of Housing Corporation Functions (Modifications and Transitional Provisions) Order 2008 (S.I. 2008/2839), arts. 1(1), 3, Sch. para. 3 (with art. 6) (see S.I. 2008/3068, art. 2(1)(b))

C15 S. 81: transfer of functions (1.12.2008) by The Transfer of Housing Corporation Functions (Modifications and Transitional Provisions) Order 2008 (S.I. 2008/2839), arts. 1(1), 2(see S.I. 2008/3068, art. 2(1)(b))

Marginal Citations

M1 1985 c. 68.

82 Loans made under s. 2 of the Housing Act 1964. E+W+S

Schedule 7 (further powers of [F40 Relevant Authority] with respect to land of certain housing associations) applies where a loan has been made to a housing association under section 2 of the M2 Housing Act 1964 and the loan has not been repaid.

Textual Amendments

F40 Words in Pt. III (ss. 74-102) substituted (1.11.1998) by 1998 c. 38, s. 140, Sch. 16 para. 28(a) (with ss. 139(2), 143(2)); S.I. 1998/2244, art. 5

Marginal Citations

M2 1964 c. 56.

83 Power to guarantee loans. E+W+S

[F41 (1) The Relevant Authority may guarantee the repayment of the principal of, and the payment of interest on, sums borrowed by registered social landlords or unregistered self-build societies; and the Housing Corporation may guarantee the repayment of the principal of, and the payment of interest on, sums borrowed by other bodies in which it holds an interest.]

[F42 (1A) The consent of the Secretary of State given with the approval of the Treasury is required for the giving of a guarantee by the Housing Corporation and the approval of the Treasury is required for the giving of a guarantee by the Secretary of State.]

(2) Where the Corporation gives such a guarantee, it may impose such terms and conditions as it thinks fit.

(3) The aggregate amount outstanding in respect of—

(a) loans for which [F43 the Housing Corporation] has given a guarantee under this section, and

(b) payments made by [F43 the Housing Corporation] in meeting an obligation arising by virtue of such a guarantee and not repaid to [F43 the Housing Corporation],

shall not exceed £300 million or such greater sum not exceeding £500 million as the Secretary of State may specify by order made with the approval of the Treasury.

[F44 (3A) The aggregate amount outstanding in respect of—

(a) loans for which [F45 the Secretary of State (or Housing for Wales)] has given a guarantee under this section, and

(b) payments made by [F45 the Secretary of State (or Housing for Wales)] in meeting an obligation arising by virtue of such a guarantee and not repaid to [F45 the Secretary of State (or Housing for Wales)],

shall not exceed £30 million or such greater sum not exceeding £50 million as the Secretary of State may specify by order made with the approval of the Treasury]

(4) An order under subsection (3) [F46 or subsection (3A)] shall be made by statutory instrument and no such order shall be made unless a draft of it has been laid before and approved by the House of Commons.

Textual Amendments

F41 S. 83(1) substituted (1.11.1998) by 1998 c. 38, s. 140, Sch. 16 para. 37(2) (with ss. 139(2), 143(2)); S.I. 1998/2244, art. 5

F42 S. 83(1A) inserted (1.11.1998) by 1998 c. 38, s. 140, Sch. 16 para. 37(3) (with ss. 139(2), 143(2)); S.I. 1998/2244, art. 5

F43 Words substituted by Housing Act 1988 (c. 50, SIF 61), s. 59(2)(3)(4), Sch. 6 Pt. III para. 34(1)

F44 S. 83(3A) inserted by Housing Act 1988 (c. 50, SIF 61), s. 59(2)(3)(4), Sch. 6 Pt. III para. 34(2)

F45 Words in s. 83(3A) substituted (1.11.1998) by 1998 c. 38, s. 140, Sch. 16 para. 37(4) (with ss. 139(2), 143(2)); S.I. 1998/2244, art. 5

F46 Words inserted by Housing Act 1988 (c. 50, SIF 61), s. 59(2)(3)(4), Sch. 6 Pt. III para. 34(3)

Modifications etc. (not altering text)

C16 S. 83 modified (E.W.) (1.12.2008) by The Transfer of Housing Corporation Functions (Modifications and Transitional Provisions) Order 2008 (S.I. 2008/2839), arts. 1(1), 3, Sch. para. 3 (with art. 6) (see S.I. 2008/3068, art. 2(1)(b))

C17 S. 83: transfer of functions (E.W.) (1.12.2008 for specified purposes) by The Transfer of Housing Corporation Functions (Modifications and Transitional Provisions) Order 2008 (S.I. 2008/2839), arts. 1(1), 2 (see S.I. 2008/3068, art. 2(1)(b))

84 [F47 Agreements to indemnify certain lenders] E+W+S

(1) The [F48 [F49 Welsh Ministers]] may F50 . . .enter into an agreement with—

(a) a building society lending on the security of a house, or

(b) a recognised body making a relevant advance on the security of a house,

whereby, in the event of default by the mortgagor, and in circumstances and subject to conditions specified in the agreement, the [F48 [F49 Welsh Ministers]] [F51 bind themselves] to indemnify the society or body in respect of the whole or part of the mortgagor’s outstanding indebtedness and any loss or expense falling on the society or body in consequence of the mortgagor’s default.

(2) The agreement may also, if the mortgagor is made party to it, enable or require the [F48 [F49 Welsh Ministers]] in specified circumstances to take a transfer of the mortgage and assume rights and liabilities under it, the building society or recognised body being then discharged in respect of them.

(3) The transfer may be made to take effect—

(a) on terms provided for by the agreement (including terms involving substitution of a new mortgage agreement or modification of the existing one), and

(b) so that the [F48 [F49 Welsh Ministers]] [F52 are] treated as acquiring (for and in relation to the purposes of the mortgage) the benefit and burden of all preceding acts, omissions and events.

F53 (4) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

(5) [F54 The Welsh Ministers shall, before entering into an agreement in a form about which they have not] previously consulted under this subsection, consult—

(a) in the case of a form of agreement with a building society, the [F55 Financial Services Authority] and such organisations representative of building societies and local authorities as [F56 they think] expedient, and

(b) in the case of a form of agreement with a recognised body, such organisations representative of such bodies and local authorities as [F56 they think] expedient.

F57 (6) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Textual Amendments

F47 S. 84 heading substituted (1.4.2009) by The Housing Corporation (Dissolution) Order 2009 (S.I. 2009/484), art. 1(3), Sch. 1 para. 6(7) (with Sch. 1 para. 12)

F48 Words in Pt. III (ss. 74-102) substituted (1.11.1998) by 1998 c. 38, s. 140, Sch. 16 para. 28(a) (with ss. 139(2), 143(2)); S.I. 1998/2244, art. 5

F49 Words in s. 84 substituted (1.4.2009) by The Housing Corporation (Dissolution) Order 2009 (S.I. 2009/484), art. 1(3), Sch. 1 para. 6(2) (with Sch. 1 para. 12)

F50 Words in s. 84(1) repealed (1.11.1998) by 1998 c. 38, ss. 140, 152, Sch. 16 para. 38(2), Sch. 18 Pt. VI (with ss. 137(1), 139(2), 141(1), 143(2)); S.I. 1998/2244, art. 5

F51 Words in s. 84(1) substituted (1.4.2009) by The Housing Corporation (Dissolution) Order 2009 (S.I. 2009/484), art. 1(3), Sch. 1 para. 6(3) (with Sch. 1 para. 12)

F52 Word in s. 84(3)(b) substituted (1.4.2009) by The Housing Corporation (Dissolution) Order 2009 (S.I. 2009/484), art. 1(3), Sch. 1 para. 6(4) (with Sch. 1 para. 12)

F53 S. 84(4) repealed (1.4.2009) by The Housing Corporation (Dissolution) Order 2009 (S.I. 2009/484), art. 1(3), Sch. 1 para. 6(5), Sch. 2 (with Sch. 1 para. 12)

F54 Words in s. 84(5) substituted (1.4.2009) by The Housing Corporation (Dissolution) Order 2009 (S.I. 2009/484), art. 1(3), Sch. 1 para. 6(6)(a) (with Sch. 1 para. 12)

F55 Words in s. 85(5)(a) substituted (1.12.2001) by S.I. 2001/3649, art. 301

F56 Words in s. 84(5)(a)(b) substituted (1.4.2009) by The Housing Corporation (Dissolution) Order 2009 (S.I. 2009/484), art. 1(3), Sch. 1 para. 6(6)(b) (with Sch. 1 para. 12)

F57 S. 84(6) repealed (1.3.2000) by S.I. 2000/311, art. 16

Modifications etc. (not altering text)

C18 Ss. 84(5)(b), 85(4l) amended by Local Government Act 1985 (c. 51, SIF 81:1), s. 57(7), Sch. 13 paras. 22, 23 as substituted by Housing (Consequential Provisions) Act 1985 (c.71, SIF 61), s. 4, Sch. 2 para. 61

Ss. 84(5)(b), 85(4) extended (5.7.1994) by 1994 c. 19, s. 39, Sch. 13 para. 20(l) (with ss. 54(4)(7), 55(5), Sch. 17 paras. 22(1), 23(2))

Ss. 84(5)(b), 85(4) modified (1.4.1995) by S.I. 1995/401, art. 18, Sch. para. 9

85 Meaning of “recognised body” and “relevant advance”. E+W

(1) The expressions “recognised body” and “relevant advance” in section 84 (agreements to indemnify certain lenders) shall be construed in accordance with the following provisions.

(2) A “recognised body” means a body specified, or of a class or description specified, in an order made by statutory instrument by the [F58 Welsh Ministers] F59 . . ..

(3) Before making such an order varying or revoking an order previously made, the [F58 Welsh Ministers] shall give an opportunity for representations to be made on behalf of a recognised body which, if the order were made, would cease to be such a body.

(4) A “relevant advance” means an advance made to a person whose interest in the dwelling is or was acquired by virtue of a conveyance of the freehold or an assignment of a long lease, or a grant of a long lease by—

• a local authority,

• a new town corporation,

• [F60 the Welsh Ministers so far as they are or were exercising functions in relation to property transferred (or to be transferred) to them as mentioned in section 36(1)(a)(i) to (iii) of the New Towns Act 1981,]

• an urban development corporation,

• F61 . . .

• F62 ..., or

• a [F63 registered social landlord].[F64 or an advance made to such a person by the [F58 Welsh Ministers] if the conveyance, assignment or grant was made under section 90.]

(5) In subsection (4) “long lease” has the same meaning as in Part V of the M3 Housing Act 1985 (the right to buy).

Textual Amendments

F58 Words in s. 85(2)(3)(4) substituted (1.4.2009) by The Housing Corporation (Dissolution) Order 2009 (S.I. 2009/484), art. 1(3), Sch. 1 para. 7(2) (with Sch. 1 para. 12)

F59 Words in s. 85(2) repealed (1.10.1996) by 1996 c. 52, ss. 222, 227, Sch. 18 Pt. IV para. 22(1)(d), Sch. 19 Pt. XIII; S.I. 1996/2402, art. 3 (subject to transitional provisions and savings in Sch.)

F60 Words in s. 85(4) inserted (1.12.2008) by The Housing and Regeneration Act 2008 (Consequential Provisions) Order 2008 (S.I. 2008/3002), art. 1(2), Sch. 1 para. 34 (with Sch. 2) (see S.I. 2008/3068, art. 2(1)(b))

F61 Words in s. 85(4) repealed (1.11.1998) by 1998 c. 38, s. 152, Sch. 18 Pt. IV (with ss. 137(1), 139(2), 141(1), 143(2)); S.I. 1998/2244, art. 5

F62 Words in s. 85(4) omitted (1.4.2009) by virtue of The Housing Corporation (Dissolution) Order 2009 (S.I. 2009/484), art. 1(3), Sch. 1 para. 7(3), Sch. 2 (with Sch. 1 para. 12)

F63 Words in s. 85(4) substituted (1.10.1996) by S.I. 1996/2325, art. 5(1), Sch. 2 para. 15(30)

F64 Words in s. 85(4) inserted (1.11.1998) by 1998 c. 38, s. 140, Sch. 16 para. 39(b) (with ss. 139(2), 143(2)); S.I. 1998/2244, art. 5

Modifications etc. (not altering text)

C19 Ss. 84(5)(b), 85(4) amended by Local Government Act 1985 (c. 51, SIF 81:1), s. 57(7), Sch. 13 paras. 22, 23 as substituted by Housing (Consequential Provisions) Act 1985 (c.71, SIF 61), s. 4, Sch. 2 para. 61

Ss. 84(5)(b), 85(4) extended (5.7.1994) by 1994 c. 19, s. 39, Sch. 13 para. 20(l) (with ss. 54(4)(7), 55(5), Sch. 17 paras. 22(1), 23(2))

Ss. 84(5)(b), 85(4) modified (1.4.1995) by S.I. 1995/401, art. 18, Sch. para. 9

C20 S. 85(4) explained by Housing (Consequential Provisions) Act 1985 (c. 71, SIF 61), s. 5(1), Sch. 3 para. 5(3)

Marginal Citations

M3 1985 c. 68.

86 Agreements to indemnify building societies: Scotland. S

(1) [F65 Scottish Homes] may, with the approval of the Secretary of State, enter into an agreement with a building society [F66 or recognised body] under which [F65 Scottish Homes] binds itself to indemnify the building society [F66 or recognised body] in respect of—

(a) the whole or part of any outstanding indebtedness of a borrower; and

(b) loss or expense to the building society [F66 or recognised body] resulting from the failure of the borrower duly to perform any obligation imposed on him by [F67 a] heritable security.

(2) The agreement may also, where the borrower is made party to it, enable or require [F65 Scottish Homes] in specified circumstances to take an assignation of the rights and liabilities of the building society [F68 or recognised body] under the heritable security.

(3) Approval of the Secretary of State under subsection (1) may be given generally in relation to agreements which satisfy specified requirements, or in relation to individual agreements, and with or without conditions, as he thinks fit, and such approval may be withdrawn at any time on one month’s notice.

(4) Before issuing any general approval under subsection (1) the Secretary of State shall consult with such bodies as appear to him to be representative of islands and district councils, and of building societies, and also with [F65 Scottish Homes] and with the [F69 Financial Services Authority].

F70 (5) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

[F71 (6) In this section, “recognised body” means a body designated, or of a class or description designated, in an order made under this subsection by statutory instrument by the Secretary of State with the consent of the Treasury.

(7) Before making an order under subsection (6) above varying or revoking an order previously so made, the Secretary of State shall give an opportunity for representations to be made on behalf of a recognised body which, if the order were made, would cease to be such a body.]

Textual Amendments

F65 Words in s. 86(1)(2)(4) substituted (1.10.1996) by S.I. 1996/2325, art. 5(1), Sch. 2 para. 15(6)

F66 Words inserted by Housing (Scotland) Act 1986 (c. 65, SIF 61), s. 25(1), Sch. 2 para. 4(6)(a)(i)

F67 “a” substituted by Housing (Scotland) Act 1986 (c. 65, SIF 61), s. 25(1), Sch. 2 para. 4(6)(a)(ii)

F68 Words inserted by Housing (Scotland) Act 1986 (c. 65, SIF 61), s. 25(1), Sch. 2 para. 4(6)(b)

F69 Words in s. 86(4) substituted (1.12.2001) by S.I. 2001/3649, art. 302

F70 S. 86(5) repealed (1.3.2000) by S.I. 2000/311, art. 16

F71 S. 86(6)(7) added by Housing (Scotland) Act 1986 (c. 65, SIF 61), s. 25(1), Sch. 2 para. 4(6)(d)

[F72 87 Financial assistance with respect to formation, management, etc. of certain housing associations. E+W

[F73 (1) The [F74 Relevant Authority]may give financial assistance to any person to facilitate the proper performance of the functions of registered social landlords or co-operative housing associations.]

(2) Assistance under this section may be in the form of grants, loans, guarantees or incurring expenditure for the benefit of the person assisted or in such other way as the [F74 Relevant Authority] considers appropriate, except that the may not, in giving any form of financial assistance [F75 under this section], purchase loan or share capital in a company.

(3) With respect to financial assistance under this section, the following—

(a) the procedure to be followed in relation to applications for assistance,

(b) the circumstances in which assistance is or is not to be given,

(c) the method for calculating, and any limitations on, the amount of assistance, and

(d) the manner in which, and the time or times at which, assistance is to be given,

shall be such as may be specified by the [F74 Relevant Authority]F76 ...

(4) In giving assistance under this section, the may provide that the assistance is conditional upon compliance by the person to whom the assistance is given with such conditions as it may specify.

(5) Where assistance under this section is given in the form of a grant, subsections (1), (2) and (7) to (9) of section 52 of the Housing Act 1988 (recovery, etc. of grants) shall apply as they apply in relation to a grant to which that section applies, but with the substitution, for any reference in those subsections to the [F77 registered] housing association to which the grant has been given, of a reference to the person to whom assistance is given under this section.

F78 (6)] . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Extent Information

E4 This version of this provision extends to England and Wales only; a separate version has been created for Scotland only

Textual Amendments

F72 S. 87 substituted by Local Government and Housing Act 1989 (c. 42 SIF 61), s.183

F73 S. 87(1) substituted (1.10.1996) by 1996 c. 52, s. 55(1), Sch. 3 para. 7; S.I. 1996/2402 art. 3 (with transitional provisions and savings in Sch.)

F74 Words in Pt. III (ss. 74-102) substituted (1.11.1998) by 1998 c. 38, s. 140, Sch. 16 para. 28(a) (with ss. 139(2), 143(2)); S.I. 1998/2244, art. 5

F75 Words in s. 87(2) inserted (1.11.1998) by 1998 c. 38, s. 140, Sch. 16 para. 40 (with ss. 139(2), 143(2)); S.I. 1998/2244, art. 5

F76 Words in s. 87(3) repealed (18.1.2005) by Housing Act 2004 (c. 34), s. 270(3)(b), Sch. 11 para. 1(a), Sch. 16

F77 Word in s. 87(5) repealed (1.10.1996) by S.I. 1996/2325, art. 4(1), Sch. 1 Pt. I (with art. 4(2)(3))

F78 S. 87(6) repealed (18.1.2005) by Housing Act 2004 (c. 34), s. 270(3)(c), Sch. 11 para. 1(b), Sch. 16

Modifications etc. (not altering text)

C21 S. 87: transfer of functions (E.W.) (1.12.2008) by The Transfer of Housing Corporation Functions (Modifications and Transitional Provisions) Order 2008 (S.I. 2008/2839), arts. 1(1), 2 (see S.I. 2008/3068, art. 2(1)(b))

[F79 Relevant Authority’s] powers with respect to land and works E+W+S

Textual Amendments

F79 Words in Pt. III (ss. 74-102) substituted (1.11.1998) by 1998 c. 38, s. 140, Sch. 16 para. 28(b) (with ss. 139(2), 143(2)); S.I. 1998/2244, art. 5

88 Acquisition of land. E+W

(1) The [F80 Welsh Ministers] may acquire land by agreement for the purpose of—

(a) selling or leasing it to a [F81 registered social landlord] or an unregistered self-build society, or

(b) providing dwellings (for letting or for sale) or hostels,

[F82 and the Welsh Ministers may acquire land compulsorily for any such purpose.]

(2) Land may be so acquired by the [F83 Welsh Ministers] notwithstanding that it is not immediately required for any such purpose.

[F84 (3) The Acquisition of Land Act 1981 applies to the compulsory purchase of land under this section.]

F85 (4) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

F85 (5) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Extent Information

E5 This version of this provision extends to England and Wales only; a separate version has been created for Scotland only

Textual Amendments

F80 Words in s. 88(1) substituted (E.W.) (1.4.2009) by The Housing Corporation (Dissolution) Order 2009 (S.I. 2009/484), art. 1(3), Sch. 1 para. 8(2)(a) (with Sch. 1 para. 12)

F81 Words in s. 88(1) substituted (1.10.1996) by S.I. 1996/2325, art. 5(1), Sch. 2 para. 15(31)

F82 Words in s. 88(1) substituted (E.W.) (1.4.2009) by The Housing Corporation (Dissolution) Order 2009 (S.I. 2009/484), art. 1(3), Sch. 1 para. 8(2)(b) (with Sch. 1 para. 12)

F83 Words in s. 88(2) substituted (E.W.) (1.4.2009) by The Housing Corporation (Dissolution) Order 2009 (S.I. 2009/484), art. 1(3), Sch. 1 para. 8(3) (with Sch. 1 para. 12)

F84 S. 88(3) substituted (E.W.) (1.4.2009) by The Housing Corporation (Dissolution) Order 2009 (S.I. 2009/484), art. 1(3), Sch. 1 para. 8(4) (with Sch. 1 para. 12)

F85 S. 88(4)(5) repealed (E.W.) (1.4.2009) by The Housing Corporation (Dissolution) Order 2009 (S.I. 2009/484), art. 1(3), Sch. 1 para. 8(5), Sch. 2 (with Sch. 1 para. 12)

89 Provision of dwellings or hostels and clearance, management and development of land. E+W

(1) The [F86 Welsh Ministers] may provide or improve dwellings or hostels on land belonging [F87 to them].

(2) The [F86 Welsh Ministers] may clear land belonging [F87 to them] and carry out other work on the land to prepare it as a building site or estate, including—

(a) the laying out and construction of streets or roads and open spaces, and

(b) the provision of sewerage facilities and supplies of gas, electricity and water.

(3) The [F86 Welsh Ministers] may repair, maintain and insure buildings or works on land belonging [F87 to them], may generally deal in the proper course of management with such land and buildings or works on it, and may charge for the tenancy or occupation of such land, buildings or works.

(4) The [F86 Welsh Ministers] may carry out such operations on, and do such other things in relation to, land belonging [F87 to them] as appear [F87 to them] to be conducive to facilitating the provision or improvement of dwellings or hostels on the land—

(a) by the [F86 Welsh Ministers] [F88 themselves], or

(b) by a [F89 registered social landlord] or unregistered self-build society.

(5) In the exercise of [F90 their] powers under subsection (4) the [F86 Welsh Ministers] may carry out any development ancillary to or in connection with the provision of dwellings or hostels, including development which makes provision for buildings or land to be used for commercial, recreational or other non-domestic purposes.

Extent Information

E6 This version of this provision extends to England and Wales only; a separate version has been created for Scotland only

Textual Amendments

F86 Words in s. 89 substituted (E.W.) (1.4.2009) by The Housing Corporation (Dissolution) Order 2009 (S.I. 2009/484), art. 1(3), Sch. 1 para. 9(2) (with Sch. 1 para. 12)

F87 Words in s. 89 substituted (E.W.) (1.4.2009) by The Housing Corporation (Dissolution) Order 2009 (S.I. 2009/484), art. 1(3), Sch. 1 para. 9(3) (with Sch. 1 para. 12)

F88 Word in s. 89(4)(a) substituted (E.W.) (1.4.2009) by The Housing Corporation (Dissolution) Order 2009 (S.I. 2009/484), art. 1(3), Sch. 1 para. 9(4) (with Sch. 1 para. 12)

F89 Words in s. 89(4)(b) substituted (1.10.1996) by S.I. 1996/2325, art. 5(1), Sch. para. 15(32)

F90 Word in s. 89(5) substituted (E.W.) (1.4.2009) by The Housing Corporation (Dissolution) Order 2009 (S.I. 2009/484), art. 1(3), Sch. 1 para. 9(5) (with Sch. 1 para. 12)

90 Disposal of land. E+W

(1) The [F91 Welsh Ministers] may dispose of land in respect of which [F92 they have] not exercised [F93 their powers] under section 89(1) (provision or improvement of dwellings or hostels) and on which [F92 they have] not carried out any such development as is mentioned in section 89(5) [F94 (ancillary development) to a registered social landlord or an unregistered self-build society F95 ....]

(2) The [F96 Welsh Ministers] may dispose of land on which dwellings or hostels have been provided or improved in exercise of [F97 their powers] under section 89 to—

• a [F98 registered social landlord],

• a local authority,

• a new town corporation [F99 , or

• Scottish Homes;

F100 ...]

[F101 (3) The Welsh Ministers may sell or lease individual dwellings to persons for those persons to occupy.]

[F101 (4) The Welsh Ministers may dispose of a building or land intended for use for commercial, recreational or other non-domestic purposes in respect of which development has been carried out by virtue of section 89.]

[F101 (5) The Welsh Ministers may dispose of land which is not required for the purposes for which it was acquired.]

Extent Information

E7 This version of this provision extends to England and Wales only; a separate version has been created for Scotland only

Textual Amendments

F91 Words in s. 90(1) substituted (E.W.) (1.4.2009) by The Housing Corporation (Dissolution) Order 2009 (S.I. 2009/484), art. 1(3), Sch. 1 para. 10(2)(a) (with Sch. 1 para. 12)

F92 Words in s. 90(1) substituted (E.W.) (1.4.2009) by The Housing Corporation (Dissolution) Order 2009 (S.I. 2009/484), art. 1(3), Sch. 1 para. 10(2)(b) (with Sch. 1 para. 12)

F93 Words in s. 90(1) substituted (E.W.) (1.4.2009) by The Housing Corporation (Dissolution) Order 2009 (S.I. 2009/484), art. 1(3), Sch. 1 para. 10(2)(c) (with Sch. 1 para. 12)

F94 Words in s. 90(1) substituted (1.11.1998) by 1998 c. 38, s. 140, Sch. 16 para. 42(2) (with ss. 139(2), 143(2)); S.I. 1998/2244, art. 5

F95 Words in s. 90(1) omitted (E.W.) (1.4.2009) by virtue of The Housing Corporation (Dissolution) Order 2009 (S.I. 2009/484), art. 1(3), Sch. 1 para. 10(2)(d) (with Sch. 1 para. 12)

F96 Words in s. 90(2) substituted (E.W.) (1.4.2009) by The Housing Corporation (Dissolution) Order 2009 (S.I. 2009/484), art. 1(3), Sch. 1 para. 10(3)(a) (with Sch. 1 para. 12)

F97 Words in s. 90(2) substituted (E.W.) (1.4.2009) by The Housing Corporation (Dissolution) Order 2009 (S.I. 2009/484), art. 1(3), Sch. 1 para. 10(3)(b) (with Sch. 1 para. 12)

F98 Words in s. 90(2) substituted (1.10.1996) by S.I. 1996/2325, art. 5(1), Sch. 2 para. 15(33)

F99 Words in s. 90(2) substituted (1.11.1998) by 1998 c. 38, s. 140, Sch. 16 para. 42(3) (with ss. 139(2), 143(2)); S.I. 1998/2244, art. 5

F100 Words in s. 90(2) omitted (E.W.) (1.4.2009) by virtue of The Housing Corporation (Dissolution) Order 2009 (S.I. 2009/484), art. 1(3), Sch. 1 para. 10(3)(c), Sch. 2 (with Sch. 1 para. 12)

F101 S.90(3)-(5) substituted for s. 90(3)-(6) (E.W.) (1.4.2009) by The Housing Corporation (Dissolution) Order 2009 (S.I. 2009/484), art. 1(3), Sch. 1 para. 10(4) (with Sch. 1 para. 12)

Modifications etc. (not altering text)

C22 Reference to "Scottish Homes" substituted for the reference to "Scottish Special Housing Association" by Housing (Scotland) Act 1988 (c. 43, SIF 61), ss. 1, 3(3) Sch. 2 para. 1

91 Protection of persons deriving title under transactions requiring consent. E+W+S

[F102 Where the [F103 Housing Corporation] purport to acquire or dispose of land—

(a) in favour of a person claiming under the [F103 Housing Corporation]the transaction is not invalid by reason that any consent of the Secretary of State which is required has not been given, and

(b) a person dealing with the [F103 Housing Corporation], or with a person claiming under the [F103 Housing Corporation], shall not be concerned to see or inquire whether any such consent has been given.]

Textual Amendments

F102 Ss. 91-100 repealed (E.W.) (1.4.2009) by The Housing Corporation (Dissolution) Order 2009 (S.I. 2009/484), art. 1(3), Sch. 1 para. 11, Sch. 2 (with Sch. 1 para. 12)

F103 Words in s. 91 substituted (1.11.1998) by 1998 c. 38, s. 140, Sch. 16 para. 43 (with ss. 139(2), 143(2)); S.I. 1998/2244, art. 5

The [F104 Relevant Authority’s]finances E+W+S

Textual Amendments

F104 Words in Pt. III (ss. 74-102) substituted (1.11.1998) by 1998 c. 38, s. 140, Sch. 16 para. 28(b) (with ss. 139(2), 143(2)); S.I. 1998/2244, art. 5

92 Borrowing powers. E+W+S

[F102 (1) The [F105 Housing Corporation] may borrow from the Secretary of State, and the Secretary of State may lend to the [F105 Housing Corporation], by way of temporary loan or otherwise, such sums in sterling as the [F105 Housing Corporation] may require.

(2) The [F105 Housing Corporation]may, with the consent of the Secretary of State or in accordance with a general authorisation given by him, borrow temporarily by overdraft or otherwise such sums in sterling as the [F105 Housing Corporation]may require.

(3) The [F105 Housing Corporation]may, with the consent of the Secretary of State, borrow—

(a) from the European Investment Bank or the Commission of the European Communities, sums in any currency, and

(b) from any other person, sums in a currency other than sterling.

(4) A loan made to the [F105 Housing Corporation] by the Secretary of State shall be repaid to him at such times and by such methods, and interest on the loan shall be paid to him at such rates and at such times, as he may from time to time determine.

(5) The Treasury may issue to the Secretary of State out of the National Loans Fund such sums as are necessary to enable him to make loans to the [F105 Housing Corporation]in pursuance of this section; and sums received by the Secretary of State in pursuance of subsection (4) shall be paid into that Fund.

(6) The Secretary of State may act under this section only with the approval of the Treasury.]

Textual Amendments

F102 Ss. 91-100 repealed (E.W.) (1.4.2009) by The Housing Corporation (Dissolution) Order 2009 (S.I. 2009/484), art. 1(3), Sch. 1 para. 11, Sch. 2 (with Sch. 1 para. 12)

F105 Words in s. 92 substituted (1.11.1998) by 1998 c. 38, s. 140, Sch. 16 para. 44 (with ss. 139(2), 143(2)); S.I. 1998/2244, art. 5

93 Limit on borrowing. E+W+S

[F102 (1) The [F106 Housing Corporation] has only the borrowing powers conferred by section 92 and those powers are exercisable subject to the following limit.

(2) The aggregate amount outstanding by way of principal of—

(a) advances made to the [F107 Housing Corporation] under section 9 of the M4 Housing Act 1964 before 18th September 1974 (when that section was repealed),

(b) advances made to housing associations before 1st April 1975 in respect of which the rights and obligations of the Secretary of State were then transferred to the [F107 Housing Corporation] by section 34 of the M5 Housing Act 1974,

(c) money borrowed by the [F107 Housing Corporation] under section 92, and

(d) money borrowed by a subsidiary of the [F107 Housing Corporation] otherwise than from the [F107 Housing Corporation],

[F108 shall not exceed the limit [F109 specified] under subsection (2A)].

[F110 (2A) The limit referred to in subsection (2) is,—

(a) F111 . . .£2,000 million or such greater sum not exceeding £3,000 million as the Secretary of State may specify by order made with the consent of the Treasury; F112 . . .

F112 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .]

(3) An order under subsection [F113 (2A)] shall be made by statutory instrument and no such order shall be made unless a draft of it has been laid before and approved by the House of Commons.

(4) In ascertaining the limit imposed by subsection [F113 (2A)], interest payable on a loan made by the Secretary of State to the [F106 Housing Corporation]which, with the approval of the Treasury, is deferred and treated as part of the loan, shall, so far as outstanding, be treated as outstanding by way of principal.

(5) The power of the [F106 Housing Corporation]to borrow from a subsidiary of the [F106 Housing Corporation] is not affected by subsection (1) and borrowing from such a subsidiary shall be left out of account for the purposes of subsection [F113 (2A)].]

Textual Amendments

F102 Ss. 91-100 repealed (E.W.) (1.4.2009) by The Housing Corporation (Dissolution) Order 2009 (S.I. 2009/484), art. 1(3), Sch. 1 para. 11, Sch. 2 (with Sch. 1 para. 12)

F106 Words in s. 93(1)(4)(5) substituted (1.11.1998) by 1998 c. 38, s. 140, Sch. 16 para. 45(2) (with ss. 139(2), 143(2)); S.I. 1998/2244, art. 5

F107 Words in s. 93(2) substituted (1.11.1998) by 1998 c. 38, s. 140, Sch. 16 para. 45(3)(a) (with ss. 139(2), 143(2)); S.I. 1998/2244, art. 5

F108 Words substituted by Housing Act 1988 (c. 50, SIF 61), s. 59(2)(3)(4), Sch. 6 Pt. III para. 35(1)

F109 Word in s. 93(2) substituted (1.11.1998) by 1998 c. 38, s. 140, Sch. 16 para. 45(3)(b) (with ss. 139(2), 143(2)); S.I. 1998/2244, art. 5

F110 S. 93(2A) inserted by Housing Act 1988 (c. 50, SIF 61), s. 59(2)(3)(4), Sch. 6 Pt. III para. 35(2)

F111 Words in s. 93(2A)(a) repealed (1.11.1998) by 1998 c. 38, ss. 140, 152, Sch. 16 para. 45(4)(a), Sch. 18 Pt. VI (with ss. 137(1), 139(2), 141(1), 143(2)); S.I. 1998/2244, art. 5

F112 S. 93(2A)(b) and the word preceding it repealed (1.11.1998) by 1998 c. 38, ss. 140, 152, Sch. 16 para. 45(4)(b), Sch. 18 Pt. VI (with ss. 137(1), 139(2), 141(1), 143(2)); S.I. 1998/2244, art. 5

F113 “2A” substituted by Housing Act 1988 (c. 50, SIF 61), s. 59(2)(3)(4), Sch. 6 Pt. III para. 35(3)

Marginal Citations

M4 1964 c. 56.

M5 1974 c. 44.

94 Treasury guarantees of borrowing. E+W+S

[F102 (1) The Treasury may guarantee, in such manner and on such conditions as they think fit, the repayment of the principal of and the payment of interest on and the discharge of any other financial obligation in connection with sums which the [F114 Housing Corporation] borrows from a person other than the Secretary of State.

(2) Immediately after a guarantee is given the Treasury shall lay a statement of the guarantee before each House of Parliament.

(3) Any sums required by the Treasury for fulfilling the guarantee shall be charged on and issued out of the Consolidated Fund.

(4) If any sums are so issued, the [F114 Housing Corporation] shall make to the Treasury, at such times and in such manner as the Treasury may from time to time direct—

(a) payments of such amounts as the Treasury so direct in or towards repayment of the sums so issued, and

(b) payments of interest, at such rate as the Treasury so direct, on what is outstanding for the time being in respect of sums so issued.

(5) Sums received by the Treasury in pursuance of subsection (4) shall be paid into the Consolidated Fund.

(6) Where a sum is issued for fulfilling a guarantee given under this section, the Treasury shall, as soon as possible after the end of each financial year, beginning with that in which the sum is issued and ending with that in which all liability in respect of the principal of the sum and in respect of interest on it is finally discharged, lay before each House of Parliament a statement relating to the sum.]

Textual Amendments

F102 Ss. 91-100 repealed (E.W.) (1.4.2009) by The Housing Corporation (Dissolution) Order 2009 (S.I. 2009/484), art. 1(3), Sch. 1 para. 11, Sch. 2 (with Sch. 1 para. 12)

F114 Words in s. 94(1)(4) substituted (1.11.1998) by 1998 c. 38, s. 140, Sch. 16 para. 46 (with ss. 139(2), 143(2)); S.I. 1998/2244, art. 5

95 Grants to the [F115 Housing Corporation]. E+W+S

[F102 (1) The Secretary of State may make such grants to the [F115 Housing Corporation] as appear to him to be required to enable the [F115 Housing Corporation] to meet the expenses incurred by it in the exercise of its functions.

(2) A grant may be made subject to such conditions as the Secretary of State may determine.

(3) The Secretary of State may act under this section only with the consent of the Treasury.]

Textual Amendments

F102 Ss. 91-100 repealed (E.W.) (1.4.2009) by The Housing Corporation (Dissolution) Order 2009 (S.I. 2009/484), art. 1(3), Sch. 1 para. 11, Sch. 2 (with Sch. 1 para. 12)

F115 Words in s. 95(1) and sidenote substituted (1.11.1998) by 1998 c. 38, s. 140, Sch. 16 para. 47 (with ss. 139(2), 143(2)); S.I. 1998/2244, art. 5

96 General financial provisions. E+W+S

[F102 (1) The [F116 Housing Corporation] may turn its resources to account so far as they are not required for the exercise of its functions.

(2) If for an accounting year the revenues of the [F116 Housing Corporation] exceed the total sums properly chargeable to revenue account, the [F116 Housing Corporation]shall apply the excess in such manner as the Secretary of State may, after consultation with the [F116 Housing Corporation], direct; and the Secretary of State may direct that the whole or part of the excess be paid to him.

(3) The Secretary of State may give directions to the [F116 Housing Corporation] as to matters relating to—

(a) the establishment or management of reserves,

(b) the carrying of sums to the credit of reserves, or

(c) the application of reserves for the purposes of the [F117 Housing Corporation’s]functions.

(4) The Secretary of State may, after consultation with the [F116 Housing Corporation], direct the [F116 Housing Corporation] to pay to him the whole or part of any sums for the time being standing to the credit of reserves of the [F116 Housing Corporation] or being of a capital nature and not required for the exercise of the [F117 Housing Corporation’s] functions.

(5) The Secretary of State may act under this section only with the approval of the Treasury.]

Textual Amendments

F102 Ss. 91-100 repealed (E.W.) (1.4.2009) by The Housing Corporation (Dissolution) Order 2009 (S.I. 2009/484), art. 1(3), Sch. 1 para. 11, Sch. 2 (with Sch. 1 para. 12)

F116 Words in s. 96(1)-(4) substituted (1.11.1998) by 1998 c. 38, s. 140, Sch. 16 para.48(2) (with ss. 139(2), 143(2)); S.I. 1998/2244, art. 5

F117 Words in s. 96(3)(4) substituted (1.11.1998) by 1998 c. 38, s. 140, Sch. 16 para. 48(3) (with ss. 139(2), 143(2)); S.I. 1998/2244, art. 5

97 Accounts and audit. E+W+S

[F102 (1) The [F118 Housing Corporation]shall keep proper accounts and proper records in relation to the accounts and shall prepare in respect of each financial year annual accounts in such form as the Secretary of State may, with the approval of the Treasury, direct.

(2) The accounts of the [F118 Housing Corporation] for each financial year [F119 ending on or before 31st March 2003] shall be audited by a qualified accountant appointed for the purpose by the Secretary of State.

[F120 (2A) The Housing Corporation shall send a copy of the accounts prepared under subsection (1) in respect of each financial year ending on or after 31st March 2004 to the Comptroller and Auditor General as soon as reasonably practicable after the end of the financial year to which the accounts relate.

(2B) The Comptroller and Auditor General shall examine and certify the accounts sent to him by the Housing Corporation under subsection (2A) and shall lay before each House of Parliament a copy of the accounts and his report on them.]

(3) As soon as the annual accounts of the [F118 Housing Corporation] for a financial year have been audited [F121 under subsection (2) or (2A)] , the [F118 Housing Corporation]shall send to the Secretary of State a copy of the accounts prepared by it for the year in accordance with this section, together with a copy of any report made on them by the auditor.

(4) The Secretary of State shall prepare in respect of each financial year, in such form and manner as the Treasury may direct, an account of—

(a) the sums issued to him and lent to the [F118 Housing Corporation], and

(b) sums received by him from the [F118 Housing Corporation] and paid into the National Loans Fund in respect of the principal and interest on sums so lent, or on sums advanced to the [Housing Corporation] under section 9 of the M6 Housing Act 1964,

and shall transmit the accounts so prepared by him to the Comptroller and Auditor General on or before 30th November in the following financial year.

(5) The Comptroller and Auditor General shall examine and certify the accounts prepared by the Secretary of State and lay before each House of Parliament copies of the accounts together with his report on them.

F122 [(6) In this section “qualified accountant” means a person who is eligible for appointment as a [F123 statutory auditor under Part 42 of the Companies Act 2006] .]]

Textual Amendments

F102 Ss. 91-100 repealed (E.W.) (1.4.2009) by The Housing Corporation (Dissolution) Order 2009 (S.I. 2009/484), art. 1(3), Sch. 1 para. 11, Sch. 2 (with Sch. 1 para. 12)

F118 Words in s. 97(1)-(4) substituted (1.11.1998) by 1998 c. 38, s. 140, Sch. 16 para. 49 (with ss. 139(2), 143(2)); S.I. 1998/2244, art. 5

F119 Words in s. 97(2) inserted (23.5.2003) by The Government Resources and Accounts Act 2000 (Audit of Public Bodies) Order 2003 (S.I. 2003/1326), arts. 1, 16(2)

F120 S. 97(2A)(2B) inserted (23.5.2003) by The Government Resources and Accounts Act 2000 (Audit of Public Bodies) Order 2003 (S.I. 2003/1326), arts. 1, 16(3)

F121 Words in s. 97(3) inserted (23.5.2003) by The Government Resources and Accounts Act 2000 (Audit of Public Bodies) Order 2003 (S.I. 2003/1326), arts. 1, 16(4)

F122 S. 97(6) substituted (01.10.1991) by S.I. 1991/1997, reg. 2, Sch. para. 59(2) (with reg. 4).

F123 Words in s. 97(6) substituted (6.4.2008) by The Companies Act 2006 (Consequential Amendments etc) Order 2008 (S.I. 2008/948), art. 2(2), Sch. 1 para. 1(ii) (with arts. 6, 11, 12)

Modifications etc. (not altering text)

C23 S. 97(1)-(3) modified (1.11.1998) by 1998 c. 38, s. 142(2) (with ss. 139(2), 143(2)); S.I. 1998/2244, art. 5

C24 S. 97(4) applied (with modifications) (1.11.1998) by 1998 c. 38, s. 142(5) (with ss. 139(2), 143(2)); S.I. 1998/2244, art. 5

Marginal Citations

M6 1964 c. 56.

Acquisition of securities and control of subsidiaries E+W+S

98 Acquisition of securities and promotion of body corporate. E+W+S

[F102 (1) The [F124 Housing Corporation] may with the consent of the Secretary of State—

(a) subscribe for or acquire securities of a body corporate, and

(b) promote or participate in the promotion of a body corporate.

(2) In the section “securities” means shares, stock, debenture stock and other securities of a like nature.]

Textual Amendments

F102 Ss. 91-100 repealed (E.W.) (1.4.2009) by The Housing Corporation (Dissolution) Order 2009 (S.I. 2009/484), art. 1(3), Sch. 1 para. 11, Sch. 2 (with Sch. 1 para. 12)

F124 Words in s. 98(1) substituted (1.11.1998) by 1998 c. 38, s. 140, Sch. 16 para. 50 (with ss. 139(2), 143(2)); S.I. 1998/2244, art. 5

99 Control of subsidiaries. E+W+S

[F102 (1) The [F125 Housing Corporation] shall exercise its control over its subsidiaries so as to secure that no subsidiary—

(a) engages in an activity which the [F125 Housing Corporation] is not empowered to carry on, or

(b) engages in an activity in a manner in which the [F125 Housing Corporation] itself could not engage by reason of a direction given to it under section 76 (directions by Secretary of State).

(2) The [F125 Housing Corporation] shall also exercise its control over its subsidiaries so as to secure that no subsidiary of its—

(a) borrows money from a person other than the [F125 Housing Corporation], or

(b) raises money by the issue of shares or stock to a person other than the [F125 Housing Corporation],

without the consent of the Secretary of State.]

Textual Amendments

F102 Ss. 91-100 repealed (E.W.) (1.4.2009) by The Housing Corporation (Dissolution) Order 2009 (S.I. 2009/484), art. 1(3), Sch. 1 para. 11, Sch. 2 (with Sch. 1 para. 12)

F125 Words in s. 99(1)(2) substituted (1.11.1998) by 1998 c. 38, s. 140, Sch. 16 para. 51 (with ss. 139(2), 143(2)); S.I. 1998/2244, art. 5

Supplementary provisions E+W+S

[F126 100 Scottish Special Housing Association may act as agents for [F127 Relevant Authority]in Scotland. E+W+S

[F102 The [F127 Relevant Authority] may, on such terms and conditions as may be agreed between it and the Scottish Special Housing Association, authorise the Association to act in Scotland as the agents of the [F127 Relevant Authority] for the purpose of carrying out any of the functions vested in the [F127 Relevant Authority] under—

(a) section 77 (advisory service),

(b) sections 88 and 89 (powers with respect to land and works), or

(c) paragraph 5 of Schedule 7 (schemes for provision of housing accommodation in place of a housing association).]]

Textual Amendments

F102 Ss. 91-100 repealed (E.W.) (1.4.2009) by The Housing Corporation (Dissolution) Order 2009 (S.I. 2009/484), art. 1(3), Sch. 1 para. 11, Sch. 2 (with Sch. 1 para. 12)

F126 S. 100 repealed (S.) by Housing (Scotland) Act 1986 (c. 65, SIF 61), s. 25(2),Sch. 3

F127 Words in Pt. III (ss. 74-102) substituted (1.11.1998) by 1998 c. 38, s. 140, Sch. 16 para. 28(a) (with ss. 139(2), 143(2)); S.I. 1998/2244, art. 5

101 Minor definitions. E+W+S

In this Part—

• [F128 “building society” means a building society within the meaning of the Building Societies Act 1986;]

• “financial year” means the period of 12 months ending with the 31st March;

• “highway”, in relation to Scotland, includes a public right of way;

• “subsidiary” has the meaning given by [F129 section 1159 of the Companies Act 2006] .

Textual Amendments

F128 Definition substituted by Building Societies Act 1986 (c. 53, SIF 16), ss. 54(3)(a)(5), 120(1), Sch. 18 Pt. I para. 19(4)

F129 Words in s. 101 substituted (1.10.2009) by The Companies Act 2006 (Consequential Amendments, Transitional Provisions and Savings) Order 2009 (S.I. 2009/1941), art. 1(2), Sch. 1 para. 63(2) (with art. 10)

102 Index of defined expressions: Part III. E+W

The following Table shows provisions defining or explaining expressions used in this Part (other than provisions defining or explaining an expression in the same section or paragraph):—

building society	section 101
F130 . . .	F130 . . .
[F131 co-operative housing association	section 1]
dwelling	section 106
financial year	section 101
heritable security	section 106
highway (in relation to Scotland)	section 101
hostel	section 106
housing association	section 1(1)
local authority	section 106
local housing authority	section 104
new town corporation	section 106
recognised body	section 85(2)
[F132 registered social landlord	section 2B]
relevant advance	section 85(4)
self-build society	section 1(3)
subsidiary	section 101
[F133 unregistered (in relation to a housing association)	section 2B]
urban development corporation	section 106

Extent Information

E8 This version of this provision extends to England and Wales only; a separate version has been created for Scotland only

Textual Amendments

F130 S. 102 entry omitted (1.10.2009) by virtue of The Companies Act 2006 (Consequential Amendments, Transitional Provisions and Savings) Order 2009 (S.I. 2009/1941), art. 1(2), Sch. 1 para. 63(3) (with art. 10)

F131 S. 102: definition inserted (1.10.1996) by S.I. 1996/2325, art. 5(1), Sch. 2 para. 34(a)

F132 S. 102: definition substituted (1.10.1996) by S.I. 1996/2325, art. 5(1), Sch. 2 para. 34(b)

F133 S. 102: definition substituted (1.10.1996) by S.I. 1996/2325, art. 5(1), Sch. 2 para. 34(c)

102 Index of defined expressions: Part III. S

The following Table shows provisions defining or explaining expressions used in this Part (other than provisions defining or explaining an expression in the same section or paragraph):—

building society	section 101
F130 . . .	F130 . . .
dwelling	section 106
financial year	section 101
heritable security	section 106
highway (in relation to Scotland)	section 101
hostel	section 106
housing association	section 1(1)
local authority	section 106
local housing authority	section 104
new town corporation	section 106
recognised body	section 85(2)
registered (in relation to a housing association)	section 3(2)
relevant advance	section 85(4)
self-build society	section 1(3)
subsidiary	section 101
unregistered (in relation to a housing association)	section 3(2)
urban development corporation	section 106

Extent Information

E9 This version of this provision extends to Scotland only; a separate version has been created for England and Wales only

Textual Amendments

F130 S. 102 entry omitted (1.10.2009) by virtue of The Companies Act 2006 (Consequential Amendments, Transitional Provisions and Savings) Order 2009 (S.I. 2009/1941), art. 1(2), Sch. 1 para. 63(3) (with art. 10)