SCHEDULES

SCHEDULE 8 Housing Action Trusts: Finance Etc.

Part II Finance

Financial limits

8

1

The aggregate amount of the sums mentioned in sub-paragraph (2) below shall not exceed such sum as the Secretary of State, with the consent of the Treasury, may by order made by statutory instrument specify.

2

The sums are—

a

sums borrowed by all trusts under paragraph 4 above minus repayments made in respect of the sums; and

b

sums issued by the Treasury in fulfilment of guarantees under paragraph 5 above of debts of all trusts.

3

No order shall be made under sub-paragraph (1) above unless a draft of it has been laid before, and approved by a resolution of, the House of Commons.