31(1)In section 74 (constitution of Housing Corporation etc.), in subsection (1) after the words “Housing Corporation” there shall be inserted “and Housing for Wales, each of”.
(2)In subsection (2) of that section for the words “the Corporation” there shall be substituted “the Housing Corporation”.
(3)At the end of that section there shall be inserted the following subsections—
“(3)In this Part “registered housing association” in relation to the Corporation, means a housing association registered in the register maintained by the Corporation.
(4)In this Part,—
(a)in relation to land in Wales held by an unregistered housing association, “the Corporation” means Housing for Wales; and
(b)in relation to land outside Wales held by such an association, “the Corporation” means the Housing Corporation.”
32In section 75 (general functions), in subsection (1)(c) for the words “a register of housing associations” there shall be substituted “the register of housing associations referred to in section 3”.
33At the end of section 77 (advisory service) there shall be added the following subsection—
“(3)The powers conferred on the Corporation by subsections (1) and (2) may be exercised by the Housing Corporation and Housing for Wales acting jointly”.
34(1)In section 83 (power to guarantee loans), in subsection (3) (maximum amount outstanding in respect of loans etc.) for the words “the Corporation”, in each place where they occur, there shall be substituted “the Housing Corporation”.
(2)After subsection (3) of that section there shall be inserted the following subsection—
“(3A)The aggregate amount outstanding in respect of—
(a)loans for which Housing for Wales has given a guarantee under this section, and
(b)payments made by Housing for Wales in meeting an obligation arising by virtue of such a guarantee and not repaid to Housing for Wales,
shall not exceed £30 million or such greater sum not exceeding £50 million as the Secretary of State may specify by order made with the approval of the Treasury”.
(3)In subsection (4) of that section (procedure for orders of Secretary of State) after the words “subsection (3)” there shall be inserted “or subsection (3A)”.
35(1)In section 93 (limit on borrowing), in subsection (2) for the words from “shall not exceed” onwards there shall be substituted “shall not exceed the limit appropriate to the Corporation under subsection (2A)”.
(2)At the end of subsection (2) of that section there shall be inserted the following subsection—
“(2A)The limit referred to in subsection (2) is,—
(a)in the case of the Housing Corporation, £2,000 million or such greater sum not exceeding £3,000 million as the Secretary of State may specify by order made with the consent of the Treasury; and
(b)in the case of Housing for Wales, £250 million or such greater sum not exceeding £300 million as the Secretary of State may specify by order made with the consent of the Treasury.”
(3)In subsections (3) to (5) of that section for “(2)”, in each place where it occurs, there shall be substituted “(2A)”.
36In section 106(1) (minor definitions: general) for the definition of “housing activities” there shall be substituted the following—
““housing activities”, in relation to a registered housing association, means all its activities in pursuance of such of its purposes, objects or powers as are of a description mentioned in section 1(1) (a) or subsections (2) to (4) of section 4.”
37In Schedule 6, paragraph 3(3)(b) shall be omitted.