71 Power to give financial assistance.E+W
(1)For the purpose of achieving its objects a housing action trust may, with the consent of the Secretary of State, give financial assistance to any person.
(2)Financial assistance under subsection (1) above may be given in any form and, in particular, may be given by way of—
(a)grants,
(b)loans,
(c)guarantees,
(d)incurring expenditure for the benefit of the person assisted, or
(e)purchasing loan or share capital in a company.
(3)Financial assistance under subsection (1) above may be given on such terms as the housing action trust, with the consent of the Secretary of State, considers appropriate.
(4)Any consent under this section—
(a)may be given either unconditionally or subject to conditions; and
(b)may be given in relation to a particular case or in relation to such description of cases as may be specified in the consent;
and the reference in subsection (3) above to the consent of the Secretary of State is a reference to his consent given with the approval of the Treasury.
(5)The terms referred to in subsection (3) above may, in particular, include provision as to—
(a)the circumstances in which the assistance must be repaid or otherwise made good to the housing action trust and the manner in which that is to be done; or
(b)the circumstances in which the housing action trust is entitled to recover the proceeds or part of the proceeds of any disposal of land or buildings in respect of which assistance was provided.
(6)Any person receiving assistance under subsection (1) above shall comply with the terms on which it is given and compliance may be enforced by the housing action trust.