Housing Act, 1988

Guarantees by housing authorities.

16.—(1) A housing authority may, and shall, where so directed by the Minister, subject to such regulations as may be made by the Minister for the purposes of this section, guarantee a loan or part of a loan by an assurance company, a bank, a building society, a credit union or any other industrial or commercial organisation for the purpose of acquiring, constructing, or carrying out improvement works to, a house.

(2) The Minister may, with the consent of the Minister for Finance, recoup out of moneys provided by the Oireachtas all or part of any payment made by a housing authority by virtue of a guarantee given under this section.