Housing Act 1988 (c. 50)

SCHEDULES

SCHEDULE 6 E+W+S Amendments of M1 Housing Associations Act 1985

Marginal Citations

M1 1985 c. 69.

Part III E+W+S Amendments of Part III with Respect to the Housing Corporation and Housing for Wales

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”. E+W+S

(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)”.