183Guarantees etc by Board

183 Guarantees etc by Board

183 Guarantees etc by Board

(1) The Board may, with the approval of the Minister—

(a) guarantee the due performance of an obligation incurred by a person or body in connection with a scheme for the provision of residential accommodation, and

(b) make good a loss incurred by a person or body in connection with a scheme for the provision of residential accommodation, and

(c) indemnify a person or body against a liability incurred under a guarantee (provided by the person or body) of the kind which the Board could provide under this section, and

(d) enter into and give effect to an agreement to do anything which the Board is authorised to do under this section.

(2) The following are examples of schemes for the provision of residential accommodation—

(a) a joint venture that the Board enters into under this Division,

(b) a residential accommodation unit trust in which the Board is empowered to invest under this Division.

(3) A permissible method of making good a loss involving such a residential accommodation unit trust is investment in units in the trust.