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Housing Associations Act 1985
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Version Superseded: 01/10/1996
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83 Power to guarantee loans.E+W+S
(1)The Corporation may, with the consent of the Secretary of State given with the approval of the Treasury, guarantee the repayment of the principal of, and the payment of interest on, sums borrowed by—
registered housing associations,
unregistered self-build societies, or
other bodies in which the Corporation holds an interest.
(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 [F1the Housing Corporation] has given a guarantee under this section, and
(b)payments made by [F1the Housing Corporation] in meeting an obligation arising by virtue of such a guarantee and not repaid to [F1the 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.
[F2(3A)The aggregate amount outstanding in respect of—
(a)loans for which Housing for Wales has given a guarantee under this section, and
(b)payments made by Housing for Wales in meeting an obligation arising by virtue of such a guarantee and not repaid to 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) [F3or 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
F1Words substituted by Housing Act 1988 (c. 50, SIF 61), s. 59(2)(3)(4), Sch. 6 Pt. III para. 34(1)
F2S. 83(3A) inserted by Housing Act 1988 (c. 50, SIF 61), s. 59(2)(3)(4), Sch. 6 Pt. III para. 34(2)
F3Words inserted by Housing Act 1988 (c. 50, SIF 61), s. 59(2)(3)(4), Sch. 6 Pt. III para. 34(3)
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