Orders of the Day — Housing (Scotland) Bill (Money

– in the House of Commons at 9:36 pm on 11th January 1988.

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Queen's recommendation having been signified

Resolved,That, for the purpose of any Act resulting from the Housing (Scotland) Bill, it is expedient to authorise—(1) subject to the prescribed limit—

  1. (a) the payment out of the National Loans Fund of sums required for making loans to Scottish Homes;
  2. (b) the payment out of the Consolidated Fund of sums required for fulfilling any guarantee given by the Treasury in respect of sums borrowed by Scottish Homes;
and in this paragraph of this Resolution "the prescribed limit" means the limit of £1,500 million under the said Act on the aggregate amount outstanding by way of principal in respect of—
  1. (i) money borrowed by Scottish Homes:
  2. (ii) money borrowed by any wholly owned subsidiaries of Scottish Homes otherwise than from Scottish Homes or from another such wholly owned subsidiary;
  3. (iii) money borrowed by the Scottish Special Housing Association or by the Housing Corporation, the repayment of which is a liability of obligation transferred to Scottish Homes under I he Act;
  4. (iv) sums issued by the Treasury in fulfilment of guarantees in respect of sums borrowed by Scottish Homes from a person other than the Secretary of State;
(2) the payment out of money provided by Parliament of—
  1. (a) any expenses of the Secretary of State under the Act; and
  2. (b) any increase attributable to the Act in the sums so payable under any other enactment;
(3) any payment into the Consolidated Fund or the National Loans Fund under the said Act.—[Mr. Maclean.]