Article 3 Amendments to directions.

(1)

Subject to article 4, the Home Purchase Assistance Directions 1978^f1 are amended as follows.

(2)

For paragraphs 3 to 10 substitute—

“3

On or before 8th April 1994 each institution shall (without request being made) provide the Secretary of State with sufficient information for the Secretary of State to ascertain the amount (if any) of relevant advances to be repaid by that institution in accordance with the Home Purchase Assistance (Commutation of Repayments) Order 1994.”.

(3)

In paragraph 11 for “under these directions on the date on which it falls due in accordance with paragraphs 8, 9 and 10” substitute “under the Home Purchase Assistance (Commutation of Repayments) Order 1994 on the date on which it falls due”.

(4)

At the end of paragraph 17 add—

“(d)

if relevant to a commuted repayment, until two years after the repayment date.”.

(5)

In paragraph 38(2)—

(a)

after the definition of “quarter” insert—

““relevant advance” has the meaning given by the Home Purchase Assistance (Commutation of Repayments) Order 1994;”; and

(b)

after the definition of “relevant interest” insert—

““the repayment date” means 29th April 1994;”.

Annotations

Footnotes

f1: The Directions were made under sections 1 and 2 of the Home Purchase Assistance and Housing Corporation Guarantee Act 1978 (c. 27) and were kept in force by section 2(2) of the Housing (Consequential Provisions Act 1985 (c. 71) which repealed the 1978 Act.