Explanatory Notes

Housing and Regeneration Act 2008

2008 CHAPTER 17

22 July 2008

Structure of the Act

Part 1 - the Homes and Communities Agency

Chapter 4 - Other functions of the HCA
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.