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Housing Associations Act 1985
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92Borrowing powers
(1)The Corporation may borrow from the Secretary of State, and the Secretary of State may lend to the Corporation, by way of temporary loan or otherwise, such sums in sterling as the Corporation may require.
(2)The Corporation may, with the consent of the Secretary of State or in accordance with a general authorisation given by him, borrow temporarily by overdraft or otherwise such sums in sterling as the Corporation may require.
(3)The Corporation may, with the consent of the Secretary of State, borrow—
(a)from the European Investment Bank or the Commission of the European Communities, sums in any currency, and
(b)from any other person, sums in a currency other than sterling.
(4)A loan made to the Corporation by the Secretary of State shall be repaid to him at such times and by such methods, and interest on the loan shall be paid to him at such rates and at such times, as he may from time to time determine.
(5)The Treasury may issue to the Secretary of State out of the National Loans Fund such sums as are necessary to enable him to make loans to the Corporation in pursuance of this section ; and sums received by the Secretary of State in pursuance of subsection (4) shall be paid into that Fund.
(6)The Secretary of State may act under this section only with the approval of the Treasury.
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