OpenLegislation

Section 79 Lending powers.C1C2

England, Wales and Scotland

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.

Annotations

Textual amendments

F1

S. 79(1)(2) substituted (1.11.1998) by 1998 c. 38, s. 140, Sch. 16 para. 35(2) (with ss. 139(2), 143(2)); S.I. 1998/2244, art. 5

F2

Words in s. 79(1) substituted (E.W.) (1.4.2010) by The Housing and Regeneration Act 2008 (Consequential Provisions) Order 2010 (S.I. 2010/866), art. 1(2), Sch. 2 para. 51(2)(a) (with art. 6, Sch. 3)

F3

Words in s. 79(1) repealed (E.W.) (1.4.2010) by The Housing and Regeneration Act 2008 (Consequential Provisions) Order 2010 (S.I. 2010/866), art. 1(2), Sch. 2 para. 51(2)(b), Sch. 4 (with art. 6, Sch. 3)

F4

Words in s. 79(2) substituted (E.W.) (1.4.2010) by The Housing and Regeneration Act 2008 (Consequential Provisions) Order 2010 (S.I. 2010/866), art. 1(2), Sch. 2 para. 51(3)(a) (with art. 6, Sch. 3)

F5

Words in s. 79(2)(a) substituted (E.W.) (1.4.2010) by The Housing and Regeneration Act 2008 (Consequential Provisions) Order 2010 (S.I. 2010/866), art. 1(2), Sch. 2 para. 51(3)(b) (with art. 6, Sch. 3)

F6

S. 79(2)(b) substituted (E.W.) (1.4.2010) by The Housing and Regeneration Act 2008 (Consequential Provisions) Order 2010 (S.I. 2010/866), art. 1(2), Sch. 2 para. 51(3)(c) (with art. 6, Sch. 3)

F7

Words in s. 79(3) substituted (E.W.) (1.4.2010) by The Housing and Regeneration Act 2008 (Consequential Provisions) Order 2010 (S.I. 2010/866), art. 1(2), Sch. 2 para. 51(4) (with art. 6, Sch. 3)

F8

S. 79(4) substituted (E.W.) (1.4.2010) by The Housing and Regeneration Act 2008 (Consequential Provisions) Order 2010 (S.I. 2010/866), art. 1(2), Sch. 2 para. 51(5) (with art. 6, Sch. 3)

Modifications

C1

S. 79: transfer of functions (E.W.) (1.12.2008 for specified purposes) by The Transfer of Housing Corporation Functions (Modifications and Transitional Provisions) Order 2008 (S.I. 2008/2839), arts. 1(1), 2 (see S.I. 2008/3068, art. 2(1)(b))

C2

S. 79 modified (E.W.) (1.12.2008) by The Transfer of Housing Corporation Functions (Modifications and Transitional Provisions) Order 2008 (S.I. 2008/2839), arts. 1(1), 3, Sch. para. 3 (with art. 6) (see S.I. 2008/3068, art. 2(1)(b))

Notes on Part III

Textual amendments

F1

Pt. III heading substituted (E.W.) 1.4.2010) by The Housing and Regeneration Act 2008 (Consequential Provisions) Order 2010 (S.I. 2010/866), art. 1(2), Sch. 2 para. 45 (with art. 6, Sch. 3)

Modifications

C1

Pt. III (ss. 74-102) excluded (E.W.) (1.10.1996) by 1996 c. 52, s. 7, Sch. 1 para. 15(6); S.I. 1996/2402, art. 3 (subject to transitional provisions and savings in Sch.)

Notes on Relevant Authority’s powers with respect to grants and loans

Textual amendments

F1

Words in Pt. III (ss. 74-102) substituted (1.11.1998) by 1998 c. 38, s. 140, Sch. 16 para. 28(a) (with ss. 139(2), 143(2)); S.I. 1998/2244, art. 5