PART XII HOUSE LOANS AND OTHER FINANCIAL ASSISTANCE
Rates of interest on home loans
221 Variation of rate by Secretary of State.
—Notwithstanding anything contained in sections 219 and 220, but subject to section 230, the Secretary of State may, where he considers that the interest rate charged by a local authority does not satisfy the requirements of section 219(4), direct a local authority—
a
to charge an interest rate specified in the direction; and
b
to vary the rate in accordance with the provisions of section 220.