3.—(1) The Department may provide financial assistance for any body or person doing or intending to do in a district where there exist one or more areas of social need anything falling within paragraph (2).
(2) Financial assistance under paragraph (1) may be provided for—
(a)the promotion, development or regeneration of commercial, industrial or other economic activity;
(b)the improvement of the environment;
(c)the provision of housing;
(d)the provision of social or community facilities;
(e)the refurbishment or restructuring of buildings;
or for anything not falling within sub-paragraphs (a) to (e) which the Department considers will benefit the district.
(3) Financial assistance under paragraph (1) may include—
(a)grants;
(b)loans;
(c)guarantees;
(d)the taking of any interest in property or in a body corporate.