Housing Finance Agency Act, 1981


10.—(1) The Agency may borrow money (including money in a currency other than the currency of the State) but where money is borrowed by the Agency otherwise than from the Exchequer, such borrowing shall be subject to the consent of the Minister and the Minister for Finance.

(2) For the purpose of borrowing, the Agency may create and issue bonds, debentures and other securities bearing such rate of interest and subject to such conditions as to repayment, redemption or otherwise as the Agency thinks fit.

(3) The Agency shall exercise the powers conferred on it by this section so that the amount or amounts of principal which the Agency may at any particular time be liable to repay on foot of any liability or liabilities incurred under this section does not, or do not in their aggregate, exceed £200,000,000.

(4) For the purpose of calculating the amount of borrowings under this section by reference to the limit on principal in subsection (3) of this section, the equivalent in the currency of the State of borrowings in a foreign currency shall be calculated at the exchange rate prevailing at the time the calculation is made.