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Part I DESCRIPTIONS OF BODIES CORPORATE DESIGNATED

Original text. Later amendments are not shown.

(1)(2)(3)(4)(5)
ItemSpecified descriptionSpecified definitionSpecified relevant powerSpecified purposesSpecified conditions
1.Appropriate lending vehicle

A specified type of body corporate (not being one which is excluded by the particular restrictions for appropriate lending vehicles) formed for the purpose of or the objects of which include, the carrying on of any or all of the following activities—

  1. (a)

    acquiring, holding and disposing of debts which are secured on land in the United Kingdom and in any country or territory for the time being designated by order under section 14 (power to make advances secured on land overseas) of the Act; and

  2. (b)

    making advances on the security of such land, including, where the appropriate vehicle is a one tier organisation, making advances indirectly secured on such land.

Investment and supportEnabling the appropriate vehicle to carry on the activities referred to in (and not excluded by) column 2 of this item
  1. (1)

    The lending certification condition for appropriate lending vehicles

  2. (2)

    The group interest provision