Structure of the Act Part 1 - the Homes and Communities Agency Borrowing powers of the HCA Section 22 - Guarantees by the Secretary of State
47.If the HCA takes out a loan with anyone other than the Secretary of State under section 20, the Secretary of State may guarantee the repayment of this loan, including any interest payable on it.
48.The guarantee may be subject to such terms and conditions as the Secretary of State may consider appropriate. In respect of any sums paid out under the guarantee, the Secretary of State may direct the HCA to repay such amounts as the Secretary of State may direct towards repayment of those sums and towards interest, at such rates of interest as the Secretary of State may direct.
49.The Secretary of State must lay a statement of the guarantee before Parliament immediately after giving the guarantee annually until all liability under the guarantee is discharged.