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Housing and Regeneration Act 2008

Section 158 - Assistance by regulator

450.This section broadly replicates the effect of section 49 of the 1996 Act.

451.Subsection (1) gives the regulator the power to give financial or other assistance to a registered provider for the purpose of maintaining its position while the regulator develops proposals under section 152.

452.Subsection (2) gives the regulator the power to give financial or other assistance either to a registered provider or to a manager appointed under section 155 to assist or facilitate the implementation of proposals agreed in accordance with section 152.

453.Subsection (3) specifies that such assistance under subsections (1) and (2) may include the regulator lending staff or arranging the payment of a manager’s remuneration and expenses.

454.Subsection (4) specifies a list of things that the regulator may do by way of giving assistance that require the consent of the Secretary of State. Those things are:

  • making grants,

  • making loans,

  • indemnifying a manager,

  • making payments in connection with secured loans, and

  • guaranteeing payments in connection with secured loans.

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