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88.—(1) Every statutory provision conferring or imposing a function on a board confers power on the board to enter into a contract with another person for the provision or making available of assets or services, or both, for the purposes of, or in connection with, the discharge of the function by the board.
(a)a board enters into a contract such as is mentioned in paragraph (1) (“the provision contract”) under any statutory provision; and
(b)in connection with the provision contract, a person (“the financier”) makes a loan to, or provides any other form of finance for, a party to the provision contract other than the board,
the statutory provision also confers power on the board to enter into a contract with the financier, or any insurer of or trustee for the financier, in connection with the provision contract.
(3) Schedule 4 (which contains provision for the certification of contracts entered into by a board and the effect of such certification) shall have effect.
(4) This Article and Schedule 4 apply to any contract which a board enters into after 12th June 1997.
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