Explanatory note

This Order designates 2 bodies and 3 classes or descriptions of bodies for the purposes of section 86 of The Housing Associations Act 1985. The bodies designated and any bodies belonging to the classes or descriptions designated become recognised bodies for the purposes of that section. Section 86, as amended by paragraph 4(6) of Schedule 2 to the Housing (Scotland) Act 1986, provides that the Housing Corporation may, with the approval of the Secretary of State, enter into agreements with building societies and recognised bodies providing for indemnities where such societies and bodies grant loans secured by way of heritable securities.