For subsections (1) and (2) substitute—

“(1)

The Relevant Authority may lend to a registered social landlord or an unregistered self-build society, and the Housing Corporation may lend to any of its subsidiaries or to any other body in which it holds an interest, for the purpose of enabling the body to meet the whole or part of expenditure incurred or to be incurred by it in carrying out its objects.

(2)

The Relevant Authority may lend to an individual for the purpose of enabling him to acquire from—

(a)

the Relevant Authority, or

(b)

any body to which the Relevant Authority may lend under subsection (1),

a legal estate or interest in a dwelling which he intends to occupy.”