[F187 Financial assistance with respect to formation, management, etc. of certain housing associations.E+W
[F2(1)The [F3Welsh Ministers] may 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 [F4Welsh Ministers consider appropriate, except that they] may not, in giving any form of financial assistance [F5under 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 [F6Welsh Ministers] F7... .
(4)In giving assistance under this section, the [F8Welsh Ministers] may provide that the assistance is conditional upon compliance by the person to whom the assistance is given with such conditions as [F9they] 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 [F10registered] [F11relevant housing association] to which the grant has been given, of a reference to the person to whom assistance is given under this section.
F12(6). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .]
Extent Information
E1This version of this provision extends to England and Wales only; a separate version has been created for Scotland only
Textual Amendments
F1S. 87 substituted by Local Government and Housing Act 1989 (c. 42 SIF 61), s.183
F2S. 87(1) substituted (1.10.1996) by 1996 c. 52, s. 55(1), Sch. 3 para. 7; S.I. 1996/2402 art. 3 (with transitional provisions and savings in Sch.)
F3Words in s. 87(1) substituted (E.W.) (1.4.2010) by The Housing and Regeneration Act 2008 (Consequential Provisions) Order 2010 (S.I. 2010/866), art. 1(2), Sch. 2 para. 55(2) (with art. 6, Sch. 3)
F4Words in s. 87(2) substituted (E.W.) (1.4.2010) by The Housing and Regeneration Act 2008 (Consequential Provisions) Order 2010 (S.I. 2010/866), art. 1(2), Sch. 2 para. 55(3) (with art. 6, Sch. 3)
F5Words in s. 87(2) inserted (1.11.1998) by 1998 c. 38, s. 140, Sch. 16 para. 40 (with ss. 139(2), 143(2)); S.I. 1998/2244, art. 5
F6Words in s. 87(3) substituted (E.W.) (1.4.2010) by The Housing and Regeneration Act 2008 (Consequential Provisions) Order 2010 (S.I. 2010/866), art. 1(2), Sch. 2 para. 55(4) (with art. 6, Sch. 3)
F7Words in s. 87(3) repealed (18.1.2005) by Housing Act 2004 (c. 34), s. 270(3)(b), Sch. 11 para. 1(a), Sch. 16
F8Words in s. 87(4) substituted (E.W.) (1.4.2010) by The Housing and Regeneration Act 2008 (Consequential Provisions) Order 2010 (S.I. 2010/866), art. 1(2), Sch. 2 para. 55(5)(a) (with art. 6, Sch. 3)
F9Word in s. 87(4) substituted (E.W.) (1.4.2010) by The Housing and Regeneration Act 2008 (Consequential Provisions) Order 2010 (S.I. 2010/866), art. 1(2), Sch. 2 para. 55(5)(b) (with art. 6, Sch. 3)
F10Word in s. 87(5) repealed (1.10.1996) by S.I. 1996/2325, art. 4(1), Sch. 1 Pt. I (with art. 4(2)(3))
F11Words in s. 87(5) substituted (E.W.) (1.4.2010) by The Housing and Regeneration Act 2008 (Consequential Provisions) Order 2010 (S.I. 2010/866), art. 1(2), Sch. 2 para. 55(6) (with art. 6, Sch. 3)
F12S. 87(6) repealed (18.1.2005) by Housing Act 2004 (c. 34), s. 270(3)(c), Sch. 11 para. 1(b), Sch. 16
Modifications etc. (not altering text)
C1S. 87: transfer of functions (E.W.) (1.12.2008) by The Transfer of Housing Corporation Functions (Modifications and Transitional Provisions) Order 2008 (S.I. 2008/2839), arts. 1(1), 2 (see S.I. 2008/3068, art. 2(1)(b))