# Housing Associations Act 1985, Section 87: Financial assistance with respect to formation, management, etc. of certain housing associations.

Extent: E+W

(1) The Welsh Ministers may give financial assistance to any person to facilitate the proper performance of the functions of registered social landlords or co-operative housing associations.
(2) Assistance under this section may be in the form of grants, loans, guarantees or incurring expenditure for the benefit of the person assisted or in such other way as the Welsh Ministers consider appropriate, except that they may not, in giving any form of financial assistance under this section, purchase loan or share capital in a company.
(3) With respect to financial assistance under this section, the following—
(a) the procedure to be followed in relation to applications for assistance,
(b) the circumstances in which assistance is or is not to be given,
(c) the method for calculating, and any limitations on, the amount of assistance, and
(d) the manner in which, and the time or times at which, assistance is to be given,
shall be such as may be specified by the Welsh Ministers ... .
(4) In giving assistance under this section, the Welsh Ministers may provide that the assistance is conditional upon compliance by the person to whom the assistance is given with such conditions as they may specify.
(5) Where assistance under this section is given in the form of a grant, subsections (1), (2) and (7) to (9) of section 52 of the Housing Act 1988 (recovery, etc. of grants) shall apply as they apply in relation to a grant to which that section applies, but with the substitution, for any reference in those subsections to the registered relevant housing association to which the grant has been given, of a reference to the person to whom assistance is given under this section.
(6) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

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Source: https://www.legislation.gov.uk/ukpga/1985/69/section/87 (the official version)
Page: https://openlegislation.uk/housing-associations-act-1985/section-87
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.