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(1)In this section "the 1978 Act" means the [1978 c. 50.] Inner Urban Areas Act 1978, and "designated district" and "designated district authority" have the same meanings as in that Act
(2)In this section "relevant land " means an area of land which is at the same time situated in both an urban development area and a designated district.
(3)An urban development corporation shall have (as regards relevant land) the same power as the designated district authority has (as regards the designated district) under the provisions of the 1978 Act mentioned in subsection (4) below; and the sections which are or contain those provisions shall apply accordingly (with the necessary modifications).
(4)The provisions are: —
section 2(1) (loans for acquiring land etc.)
section 3(1) (loans and grants for co-operative enterprises etc.)
sections 4 to 6 (loans and grants in improvement areas)
sections 8 to 11 (loans and grants in special areas).
(5)Subsections (6) and (7) below apply where—
(a)the Secretary of State or Ministers wish to enter into arrangements under subsection (1) of section 7 of the 1978 Act as respects any district (arrangements to determine action in case of special social need), and
(b)any area of land is situated both in an urban development area and that district
(6)In that case, arrangements under that subsection may be entered into with—
(a)the urban development corporation, or
(b)the council or councils mentioned in paragraph (a) of that subsection, or
(c)subject to subsection (7) below, both the urban development corporation and the council or councils mentioned in that paragraph.
(7)Arrangements under that subsection which are entered into by virtue of subsection (6)(c) above may not be entered into jointly with the urban development corporation and the council or councils.
(8)Where arrangements under that subsection are entered into by virtue of subsection (6) above, they may also be entered into with such other person or persons (if any) as may appear to the Secretary of State or the Ministers appropriate.
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