(5) In subsection (5) – 

(a) For “Loan Commissioners’” substitute “Treasury’s”; and 

(b) for “loans” substitute “local loans” in both places occurring. 

(6) In subsection (6) – 

(a) for “Loan Commissioners”, in the first place occurring, substitute “Treasury”, 

(b) omit “in such form and manner as the Treasury may direct”; 

(c) for “all loans made by the Loan Commissioners” in the first place occurring substitute “local loans made”; and 

(d) for “all loans made by the Loan Commissioners” in the second place occurring substitute “local loans”. 

(7) For subsection (11) substitute – 

“(11) The Public Works Loans Act 1875 and any enactments amending that Act shall apply to local loans.”. 

(8) For subsection (12) substitute – 

“(12) In this Act “local loans” means loans made, in pursuance of this section, of the descriptions set out in Schedule 4 to this Act.”. 

65.  In section 4(1)(a) (limit for local loans) for “Loan Commissioners” substitute “Treasury”. 

66.  In section 22(1) (interpretation) for ““Loan Commissioners” and “local loans” have the meanings” substitute ““local loans” has the meaning”. 

## House of Commons Disqualification Act 1975 

67.  The House of Commons Disqualification Act 1975( a ) is amended as follows. 

68.  In Part 3 of Schedule 1 (other Disqualifying Offices) omit “Public Works Loan Commissioner.”. 

## Housing Act 1985 

69.  The Housing Act 1985( b ) is amended as follows. 

70. —(1) Section 451 (loans by Public Works Loan Commissioners) is amended as follows. 

(2) For the heading substitute “Local loans made by the Treasury”. 

(3) For “Public Works Loan Commissioners” substitute “Treasury” in each place occurring. 

(4) After subsection (1) insert – 

“(1A) Any loan made under subsection (1) is a local loan for the purposes of section 3 of the National Loans Act 1968 (see Schedule 4 to that Act).”. 

## Housing Associations Act 1985 

71.  The Housing Associations Act 1985( c ) is amended as follows. 

72. —(1) Section 68 (loans by Public Works Commissioners) is amended as follows. 

(2) For the heading “Loans by Public Works Commissioners” substitute “Local loans made by the Treasury”. 

(3) For “Public Works Loan Commissioners” substitute “Treasury” in each place occurring. 

(4) After subsection (1) insert– 

