The Housing and Regeneration Act 2008 (Consequential Provisions) Order 2010

Housing Associations Act 1985

This sectionnoteType=Explanatory Memorandum has no associated

54.  (1)  Section 83 (power to guarantee loans) is amended as follows.

(2) For subsections (1) to (3) substitute—

(1) The Welsh Ministers may guarantee the repayment of the principal of, and the payment of interest on, sums borrowed by registered social landlords or unregistered self-build societies.

(2) A guarantee may be subject to terms and conditions..

(3) In subsection (3A)—

(a)in paragraph (a) for the words from “which” to “has” substitute “which the Welsh Ministers (or National Assembly for Wales, Secretary of State or Housing for Wales) have”,

(b)in paragraph (b)—

(i)for the words from the first “by” to “in” substitute “by the Welsh Ministers (or National Assembly for Wales, Secretary of State or Housing for Wales) in”, and

(ii)for the words from “to” to the end of the paragraph substitute “to the Welsh Ministers (or National Assembly for Wales, Secretary of State or Housing for Wales)”, and

(c)for the words “as the” to the end substitute “as the Welsh Ministers may specify by order”.

(4) For subsection (4) substitute—

(4) An order under subsection (3A)—

(a)shall be made by statutory instrument, and

(b)shall not be made unless, a draft of the order has been laid before, and approved by a resolution of, the National Assembly for Wales..