OpenLegislation

Section 80 Security for loans to unregistered self-build societies.C1C2

England, Wales and Scotland

(1)

Where the F1Welsh Ministers—

(a)

F2make a loan to an unregistered self-build society under section 79(1); and

(b)

under a mortgage F3... entered into by the society to secure the loan F4have an interest as mortgagee or creditor in land belonging to the society,

F5they may F6. . . give the society directions with respect to the disposal of the land.

(2)

The society shall comply with directions so given so long as the F7Welsh Ministers continue to have such an interest in the land.

(3)

Directions so given may be varied or revoked by subsequent directions F8... .

F9(3A)

. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

(4)

F10The Welsh Ministers shall not give directions under this section requiring a society to transfer its interest in land to them or any other person unless they are satisfied that arrangements have been made which will secure that the members of the society receive fair treatment in connection with the transfer.

Annotations

Textual amendments

F1

Words in s. 80(1) substituted (E.W.) (1.4.2010) by The Housing and Regeneration Act 2008 (Consequential Provisions) Order 2010 (S.I. 2010/866), art. 1(2), Sch. 2 para. 52(2)(a) (with art. 6, Sch. 3)

F2

Word in s. 80(1)(a) substituted (E.W.) (1.4.2010) by The Housing and Regeneration Act 2008 (Consequential Provisions) Order 2010 (S.I. 2010/866), art. 1(2), Sch. 2 para. 52(2)(b) (with art. 6, Sch. 3)

F3

Words in s. 80(1)(b) repealed (E.W.) (1.4.2010) by The Housing and Regeneration Act 2008 (Consequential Provisions) Order 2010 (S.I. 2010/866), art. 1(2), Sch. 2 para. 52(2)(c)(i), Sch. 4 (with art. 6, Sch. 3)

F4

Word in s. 80(1)(b) substituted (E.W.) (1.4.2010) by The Housing and Regeneration Act 2008 (Consequential Provisions) Order 2010 (S.I. 2010/866), art. 1(2), Sch. 2 para. 52(2)(c)(ii) (with art. 6, Sch. 3)

F5

Words in s. 80(1) substituted (E.W.) (1.4.2010) by The Housing and Regeneration Act 2008 (Consequential Provisions) Order 2010 (S.I. 2010/866), art. 1(2), Sch. 2 para. 52(2)(d) (with art. 6, Sch. 3)

F6

Words in s. 80(1) repealed (1.11.1998) by 1998 c. 38, ss. 140, 152, Sch. 16 para. 36(2), Sch. 18 Pt. VI (with ss. 137(1), 139(2), 141(1), 143(2)); S.I. 1998/2244, art. 5

F7

Words in s. 80(2) substituted (E.W.) (1.4.2010) by The Housing and Regeneration Act 2008 (Consequential Provisions) Order 2010 (S.I. 2010/866), art. 1(2), Sch. 2 para. 52(3) (with art. 6, Sch. 3)

F8

Words in s. 80(3) repealed (1.11.1998) by 1998 c. 38, ss. 140, 152, Sch. 16 para. 36(3), Sch. 18 Pt. VI (with ss. 137(1), 139(2), 141(1), 143(2)); S.I. 1998/2244, art. 5

F9

S. 80(3A) repealed (E.W.) (1.4.2010) by The Housing and Regeneration Act 2008 (Consequential Provisions) Order 2010 (S.I. 2010/866), art. 1(2), Sch. 2 para. 52(4), Sch. 4 (with art. 6, Sch. 3)

F10

Words in s. 80(4) substituted (E.W.) (1.4.2010) by The Housing and Regeneration Act 2008 (Consequential Provisions) Order 2010 (S.I. 2010/866), art. 1(2), Sch. 2 para. 52(5) (with art. 6, Sch. 3)

Modifications

C1

S. 80: transfer of functions (E.W.) (1.12.2008) by The Transfer of Housing Corporation Functions (Modifications and Transitional Provisions) Order 2008 (S.I. 2008/2839), arts. 1(1), 2 (see S.I. 2008/3068, art. 2(1)(b))

C2

S. 80 modified (E.W.) (1.12.2008) by The Transfer of Housing Corporation Functions (Modifications and Transitional Provisions) Order 2008 (S.I. 2008/2839), arts. 1(1), 3, Sch. para. 3 (with art. 6) (see S.I. 2008/3068, art. 2(1)(b))

Notes on Part III

Textual amendments

F1

Pt. III heading substituted (E.W.) 1.4.2010) by The Housing and Regeneration Act 2008 (Consequential Provisions) Order 2010 (S.I. 2010/866), art. 1(2), Sch. 2 para. 45 (with art. 6, Sch. 3)

Modifications

C1

Pt. III (ss. 74-102) excluded (E.W.) (1.10.1996) by 1996 c. 52, s. 7, Sch. 1 para. 15(6); S.I. 1996/2402, art. 3 (subject to transitional provisions and savings in Sch.)

Notes on Relevant Authority’s powers with respect to grants and loans

Textual amendments

F1

Words in Pt. III (ss. 74-102) substituted (1.11.1998) by 1998 c. 38, s. 140, Sch. 16 para. 28(a) (with ss. 139(2), 143(2)); S.I. 1998/2244, art. 5