Part II Finance
Housing Act 1988 (1988 c 50) | Legislation

Part II Finance

Financial duties

2

(1)     After consultation with a trust, the Secretary of State may, with the Treasury's approval, determine the financial duties of the trust, and different determinations may be made in relation to different trusts or for different functions and activities of the same trust.

(2)     The Secretary of State shall give the trust notice of every determination, and a determination may—

(a)     relate to a period beginning before the date on which it is made;

(b)     contain incidental or supplementary provisions; and

(c)     be varied by a subsequent determination.

Government grants

3

(1)     The Secretary of State may (out of moneys provided by Parliament and with the consent of the Treasury) pay to a trust, in respect of the exercise of its functions and in respect of its administrative expenses, such sums as he may (with the approval of the Treasury) determine.

(2)     The payment may be made on such terms as the Secretary of State (with the approval of the Treasury) provides.

Borrowing

4

(1)     A trust may borrow temporarily, by way of overdraft or otherwise, such sums as it may require for meeting its obligations and discharging its functions—

(a)

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