Paragraph 36

Section 80 (security for loans to unregistered self-build societies) is amended as follows.

In subsection (1), omit “, with the written consent of the Secretary of State,”.

In subsection (3), omit “given with the like consent”.

After that subsection insert—

“(3A)

The written consent of the Secretary of State is required for the giving, varying or revoking of directions by the Housing Corporation.”

In subsection (4), for the words from “consent” to “or to” substitute “ give directions under this section requiring a society to transfer its interest in land to him or any other person, and shall not consent to the Housing Corporation’s giving such directions requiring a society to transfer its interest in land to the Housing Corporation or ”.