# New Towns Act 1981, Paragraph 5

Extent: E+W

(1) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
(2) Sub-paragraph (3) applies if, in the case of a development corporation established by the Secretary of State, the liabilities of the corporation for—
(a) the repayment of advances under section 58(1) above; or
(b) the payment of interest on such advances;
are transferred to the Homes and Communities Agency.
(3) The following provisions apply to those advances—
(a) section 61(2); and
(b) section 66(1) but as if the reference to any payment under section 63 or 65 above were a reference to any sum received by the Secretary of State under section 25(2) of the Housing and Regeneration Act 2008.

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Source: https://www.legislation.gov.uk/ukpga/1981/64/schedule/10/paragraph/5 (the official version)
Page: https://openlegislation.uk/new-towns-act-1981/schedule-10/paragraph-5
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.