HC Deb 08 February 1933 vol 274 c324

Resolution reported, That for the purposes of any Act of the present Session to bring to an end the power of the Minister of Health to grant subsidies under Sections one and three of the Housing, Etc., Act, 1923, and the Housing (Financial Provisions) Act, 1924, and to enable him to undertake to make contributions in certain cases towards losses sustained by authorities under guarantees given by them for facilitating the provision of houses to be Jet to the working classes, it is expedient to authorise the payment, out of moneys provided by Parliament, of such sums as may become payable in pursuance of undertakings given by the Minister of Health, with the consent of the Treasury, under the paid Act to reimburse local authorities and county councils not more than one-half of any losses sustained by them under the terms of guarantees given to societies under paragraph (b) of Sub-section (1) of Section ninety-two of the Housing Act, 1925, where the advances whereof the repayment is guaranteed are made by the society for the purpose of enabling any of its members to build or acquire houses intended to be let to persons of the working classes and the Minister is satisfied—

  1. (a) that the guarantee extends only to the principal of, and interest on, the amount by which the sum to by advanced by the society exceeds the sum which would normally be advanced by them without any such guarantee; and
  2. (b) that the liability of the local authority or county council under the guarantee cannot be greater than two-thirds of that principal and interest."

The remaining Orders were read, and postponed.

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