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Housing and Regeneration Act 2008

Functions in relation to companies and other persons
Section 41 - Control of subsidiaries

82.A subsidiary of the HCA will not have the power to engage in an activity that the HCA itself would not be required or permitted to carry out unless the subsidiary has the consent of the Secretary of State.

83.The HCA must take steps to ensure that its subsidiaries do not borrow money from anyone other than the HCA, nor issue shares or stocks to anyone other than the HCA, without the consent of the Secretary of State.

Sections 42 and 43 - Agency arrangements with urban development corporations; Acting with, or for other persons: general

84.With the consent of the Secretary of State, the HCA can appoint an urban development corporation (“UDC”) to carry out functions on its behalf (other than its functions in connection with Chapter 3 of Part 1 (financial provision)). The UDC must act within the terms specified in the appointment. The UDC may arrange for any of its property or staff to be made available to the HCA, if requested, and if the purpose of the request is to assist the HCA to exercise its functions.

85.The HCA can form partnerships or enter into working arrangements in conjunction with others, or enter into arrangements to act on behalf others.

Section 44 – Local government involvement

86.Section 44 requires the HCA to consult with such representatives of local government as it considers appropriate about how it pursues its objects and to publish a statement about how it proposes to do that (having consulted with such persons as it considers appropriate).

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