C1Part III The Housing Corporation
F6Relevant Authority’s powers with respect to grants and loans
Words in Pt. III (ss. 74-102) substituted (1.11.1998) by 1998 c. 38, s. 140, Sch. 16 para. 28(a) (with ss. 139(2), 143(2)); S.I. 1998/2244, art. 5
E187F1 Financial assistance with respect to formation, management, etc. of certain housing associations.
F21
The F3Relevant Authoritymay give financial assistance to any person to facilitate the proper performance of the functions of registered social landlords or co-operative housing associations.
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 F3Relevant Authority considers appropriate, except that the may not, in giving any form of financial assistance F4under this section, 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 F3Relevant Authority, acting in accordance with such principles as it may from time to time determine.
4
In giving assistance under this section, the 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 F5registered 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.
Pt. III (ss. 74-102) excluded (E.W.) (1.10.1996) by 1996 c. 52, s. 7, Sch. 1 para. 15(6); S.I. 1996/2402, art. 3 (subject to transitional provisions and savings in Sch.)