Housing and Regeneration Act 2008 Explanatory Notes

Section 25 - Directions as to surplus funds

52.If the Secretary of State considers that the HCA or any of its subsidiaries has surplus capital, either on capital or revenue account, the Secretary of State may (following consultation with the HCA) direct it to pay such sums as specified (not exceeding the amount of surplus) to the Secretary of State.

53.The Secretary of State may decide to treat the whole or part of any payment as part repayment of the principal of any loans borrowed from the Secretary of State under Section 21.

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