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Housing Associations Act 1985

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Version Superseded: 01/11/1998

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79 Lending powers.E+W

(1)The Corporation may lend to—

  • a [F1registered social landlord],

  • an unregistered self-build society,

  • a subsidiary of the Corporation, or

  • any other body in which the Corporation 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 Corporation may lend to an individual for the purpose of assisting him to acquire from the Corporation, or from any such body as is mentioned in 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 Corporation.

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

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E1This version of this provision extends to England and Wales only; a separate version has been created for Scotland only

Textual Amendments

F1Words in s. 79(1) substituted (1.10.1996) by S.I. 1996/2325, art. 5(1), Sch. 2 para. 15(28)

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79 Lending powers.S

(1)The Corporation may lend to—

  • a registered housing association,

  • an unregistered self-build society,

  • a subsidiary of the Corporation, or

  • any other body in which the Corporation 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 Corporation may lend to an individual for the purpose of assisting him to acquire from the Corporation, or from any such body as is mentioned in 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 Corporation.

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

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E2This version of this provision extends to Scotland only; a separate version has been created for England and Wales only

Modifications etc. (not altering text)

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