If a housing administration order has been made in relation to a registered provider the Secretary of State may guarantee—
the repayment of any sum borrowed by the registered provider while that order is in force,
the payment of interest on any sum borrowed by the registered provider while that order is in force, and
the discharge of any other financial obligation of the registered provider in connection with the borrowing of any sum while that order is in force.
The Secretary of State may give the guarantees in whatever manner, and on whatever terms, the Secretary of State considers appropriate.
As soon as practicable after giving a guarantee under this section, the Secretary of State must lay a statement of the guarantee before Parliament.
For repayment of sums paid by the Secretary of State under a guarantee given under this section, see section 113.