OpenLegislation

Section 83 Power to guarantee loans.C1C2

England, Wales and Scotland

F1(1)

The Welsh Ministers may guarantee the repayment of the principal of, and the payment of interest on, sums borrowed by registered social landlords or unregistered self-build societies.

(2)

A guarantee may be subject to terms and conditions.

F2(3A)

The aggregate amount outstanding in respect of—

(a)

loans for F3which the Welsh Ministers (or National Assembly for Wales, Secretary of State or Housing for Wales) have given a guarantee under this section, and

(b)

payments made F4by the Welsh Ministers (or National Assembly for Wales, Secretary of State or Housing for Wales) in meeting an obligation arising by virtue of such a guarantee and not repaid F5to the Welsh Ministers (or National Assembly for Wales, Secretary of State or Housing for Wales),

shall not exceed £30 million or such greater sum not exceeding £50 million F6as the Welsh Ministers may specify by order.

F7(4)

An order under subsection (3A)—

(a)

shall be made by statutory instrument, and

(b)

shall not be made unless, a draft of the order has been laid before, and approved by a resolution of, the National Assembly for Wales.

Annotations

Textual amendments

F1

S. 83(1)(2) substituted for s. 83(1)-(3) (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. 54(2) (with art. 6, Sch. 3)

F2

S. 83(3A) inserted by Housing Act 1988 (c. 50, SIF 61), s. 59(2)(3)(4), Sch. 6 Pt. III para. 34(2)

F3

Words in s. 83(3A)(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. 54(3)(a) (with art. 6, Sch. 3)

F4

Words in s. 83(3A)(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. 54(3)(b)(i) (with art. 6, Sch. 3)

F5

Words in s. 83(3A)(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. 54(3)(b)(ii) (with art. 6, Sch. 3)

F6

Words in s. 83(3A) 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. 54(3)(c) (with art. 6, Sch. 3)

F7

S. 83(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. 54(4) (with art. 6, Sch. 3)

Modifications

C1

S. 83 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))

C2

S. 83: 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))

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