Part III The Housing CorporationSocial Housing in Wales

Relevant Authority’s powers with respect to grants and loans

79 Lending powers.

F1(1)

The F2Welsh Ministers may lend to a registered social landlord or an unregistered self-build societyF3... for the purpose of enabling the body to meet the whole or part of expenditure incurred or to be incurred by it in carrying out its objects.

(2)

The F4Welsh Ministers may lend to an individual for the purpose of enabling him to acquire from—

(a)

the F5Welsh Ministers, or

(b)

F6a registered social landlord or an unregistered self-build society,

a legal estate or interest in a dwelling which he intends to occupy.

(3)

A loan under this section may be by way of temporary loan or otherwise, and the terms of a loan made under subsection (1) may include (though the terms of a loan made under subsection (2) may not) terms for preventing repayment of the loan or part of it before a specified date without the consent of the F7Welsh Ministers.

F8(4)

Subject to that, the terms of a loan under this section shall be such as the Welsh Ministers determine either generally or in a particular case.