83 Power to guarantee loans.E+W+S
[(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.]
[(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 [the Housing Corporation] has given a guarantee under this section, and
(b)payments made by [the Housing Corporation] in meeting an obligation arising by virtue of such a guarantee and not repaid to [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.
[(3A)The aggregate amount outstanding in respect of—
(a)loans for which [the Secretary of State (or Housing for Wales)] has given a guarantee under this section, and
(b)payments made by [the Secretary of State (or Housing for Wales)] in meeting an obligation arising by virtue of such a guarantee and not repaid to [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) [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.