For section 87 of the M1Housing Associations Act 1985 (grants towards expenses in promoting or assisting registered housing associations) there shall be substituted the following section—
(1)The Corporation may give financial assistance to any person in respect of the following activities—
(a)promoting and giving advice on the formation of registered housing associations and co-operative housing associations (in this section referred to collectively as “relevant associations”);
(b)managing, providing services for, and giving advice on the running of, relevant associations; and
(c)assisting tenants and licensees of a relevant association to take part in the management of the association or of some or all of the dwellings provided by the association.
(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 Corporation considers appropriate, except that the Corporation may not, in giving any form of financial assistance, 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 Corporation, acting in accordance with such principles as it may from time to time determine.
(4)In giving assistance under this section, the Corporation 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 registered housing association to which the grant has been given, of a reference to the person to whom assistance is given under this section.
(6)Section 53 of the Housing Act 1988 (determinations under Part II) shall apply in relation to a determination under this section as it applies to a determination under sections 50 to 52 of that Act.”
Marginal Citations