Power to Give Financial Assistance HA 1988 s. 71
HA 1988 s. 71 allows a housing action trust, with Secretary of State consent and Treasury approval, to provide grants, loans, or guarantees to any person.
For the purpose of achieving its objects a housing action trust may, with the consent of the Secretary of State, give financial assistance to any person. Financial assistance under subsection (1) above may be given in any form and, in particular, may be given by way of— grants, loans, guarantees, incurring expenditure for the benefit of the person assisted, or purchasing loan or share capital in a company. Financial assistance under subsection (1) above may be given on such terms as the housing action trust, with the consent of the Secretary of State, considers appropriate. Any consent under this section— may be given either unconditionally or subject to conditions; and may be given in relation to a particular case or in relation to such description of cases as may be specified in the consent; and the reference in subsection (3) above to the consent of the Secretary of State is a reference to his consent given with the approval of the Treasury. The terms referred to in subsection (3) above may, in particular, include provision as to— the circumstances in which the assistance must be repaid or otherwise made good to the housing action trust and the manner in which that is to be done; or the circumstances in which the housing action trust is entitled to recover the proceeds or part of the proceeds of any disposal of land or buildings in respect of which assistance was provided. Any person receiving assistance under subsection (1) above shall comply with the terms on which it is given and compliance may be enforced by the housing action trust.
Text in force at .
Source: legislation.gov.uk — The National Archives (legislation.gov.uk), reproduced under licence Open Government Licence v3.0.
What it actually says
This provision allows a Housing Action Trust to offer financial support to any individual or organisation in order to fulfill its statutory objects. Financial assistance can take various forms, including direct grants, loans, guarantees, paying expenses on behalf of the recipient, or purchasing share or loan capital in a company.
Before providing financial assistance or setting its terms, the trust must obtain the consent of the Secretary of State, who must in turn obtain approval from the Treasury. Consent may be granted unconditionally or attached to specific conditions, and it can apply to a single transaction or an entire class of cases.
The trust specifies the terms of assistance, which can include conditions under which the funds must be repaid or provisions for recovering proceeds if land or buildings associated with the funding are later sold. Recipients are legally bound to follow these terms, and the trust has the authority to enforce compliance.
When it applies
- A Housing Action Trust provides a grant to a community group to assist with neighborhood improvement projects.
- A trust buys share capital in a local development company to support housing initiatives in its area.
- A Housing Action Trust demands full repayment of a loan after the recipient breaches agreed funding terms.
What this section does not say
- General objects and overall powers of housing action trusts, which are set out under ha1988s.63.
- Rules and restrictions governing disposals of land by trusts, covered under ha1988s.79.
- Legal assistance provided specifically to tenants following a land disposal, governed by ha1988s.82.
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This page reproduces the text of HA 1988 s. 71 in force at the date shown and explains it in general terms. It is not legal advice and takes no account of the circumstances of your case, which can change the answer completely. For a live dispute, for limitation periods, and before taking any step in court, consult a qualified lawyer in England and Wales.