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Local authorities may make supplemental grants, loans, etc.
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6.—(1) Any local authority may with the approval of the Minister, and subject to the prescribed conditions, do any of the matters following, that is to say:—
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(a) make to any person to whom a grant is payable by the Minister under this Act in respect of a house situate within the area of jurisdiction of the local authority, a further grant not exceeding the amount of the grant payable by the Minister in respect of that house;
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(b) make to any person to whom a grant is payable by the Minister under this Act in respect of a house situated within the area of jurisdiction of the local authority, a loan not exceeding twice the amount of the grant payable by the Minister in respect of that house, such loan to be repayable by instalments or otherwise within a period not exceeding fifteen years from the making of the loan, with interest at a rate not more than ten shillings above the rate at which the local authority can at the date of the making of the loan themselves borrow money, and to be secured by a mortgage or charge on the house aforesaid;
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(c) grant or lease any portion of any land then in the possession of the local authority to any person, subject either to a covenant that such person will erect on such land a house or a specified number of houses to which this Act applies, or a covenant that such land will be used solely as additional garden space for a reconstructed house to which this Act applies;
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(d) execute any works necessary or incidental to, or tending to promote the development of, land suitable to the erection or reconstruction of houses to which this Act applies:
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Provided that the total value of such assistance, as determined by the Minister, shall not exceed the value of the grant payable by the Minister in respect of that house.
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(2) Any local authority may, with the approval of the Minister, borrow money for the purposes of the foregoing sub-section, and moneys borrowed for those purposes shall not be reckoned as part of the total debt of such local authority for the purpose of any limitation on borrowing imposed by or under any statute.
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