Health and Medicines Act 1988

3 Corporation’s powers pending dissolution

(1) The following section shall be inserted after section 2 of the [1966 c. 8.] National Health Service Act 1966—

“2A Further powers

The Corporation shall have power—

(a) for valuable consideration to assign the benefit of a contract for a loan or to extinguish, or vary, by agreement an obligation under a contract for a loan;

(b) to sell any interest in land;

(c) to facilitate and arrange loans to persons such as are mentioned in section 2(1) above from persons other than the Corporation;

(d) to make loans jointly with other persons;

(e) to make arrangements with other persons for the purchase jointly with the Corporation of premises or other land such as are mentioned in section 2(1) above; and

(f) to arrange for persons other than the Corporation to purchase such land or premises and grant leases of such land or premises to persons such as are mentioned in that subsection.”

(2) The Secretary of State may by direction—

(a) prohibit the making by the Corporation after a date specified in the direction of offers to lend money;

(b) prohibit the making of loans by the Corporation after a date so specified; and

(c) make any prohibition contained in a direction under this subsection subject to such exceptions as may be specified in it.

(3) In section 6(3) of the National Health Service Act 1966 (Corporation’s borrowing powers) for “£150 million” there shall be substituted “£160 million”.