Part 1The Homes and Communities Agency
Chapter 4Other functions of the HCA
Functions in relation to companies and other persons
I141Control of subsidiaries
1
The HCA must ensure that no subsidiary of the HCA engages, without the consent of the Secretary of State, in an activity which the HCA would not be required or permitted to carry on.
2
The HCA must ensure that no subsidiary of the HCA—
a
borrows from a person other than the HCA, or
b
raises money by the issue of shares or stock to a person other than the HCA,
without the consent of the Secretary of State.