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SCHEDULES

SCHEDULE 8Housing Action Trusts: Finance Etc.

Part IIFinance

Financial limits

8(1)The aggregate amount of the sums mentioned in sub-paragraph (2) below shall not exceed such sum as the Secretary of State, with the consent of the Treasury, may by order made by statutory instrument specify.

(2)The sums are—

(a)sums borrowed by all trusts under paragraph 4 above minus repayments made in respect of the sums; and

(b)sums issued by the Treasury in fulfilment of guarantees under paragraph 5 above of debts of all trusts.

(3)No order shall be made under sub-paragraph (1) above unless a draft of it has been laid before, and approved by a resolution of, the House of Commons.