Section 73 Payment of balance of cost, &c: cessation of conditions.

England and Wales

(1)

If at any time while a condition of participation under section 70 or 71 remains in force—

(a)

the assisted participant pays the balance of the cost to the local housing authority,

(b)

a mortgagee of the interest of the assisted participant in the premises being a mortgagee entitled to exercise a power of sale, makes such a payment,

(c)

the authority determine not to demand payment on the breach of a condition of participation, or

(d)

the authority demand payment in whole or in part on the breach of a condition of participation and that demand is satisfied,

that condition and any other conditions of participation shall cease to be in force with respect to the premises of that assisted participant.

(2)

An amount paid by a mortgagee under subsection (1)(b) above shall be treated as part of the sums secured by the mortgage and may be discharged accordingly.

(3)

The purposes authorised for the application of capital money by—

(a)

section 73 of the M1Settled Land Act 1925,

F1(b)

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

(c)

section 26 of the M2Universities and College Estates Act 1925,

include the making of payments under this section.

Annotations

Textual amendments

F1: S. 73(3)(b) repealed (1.1.1997) by 1996 c. 47, s. 25(2), Sch. 4 (ss. 24(2), 25(4)); S.I. 1996/2974, art. 2

Marginal citations

M1: 1925 c. 18.
M2: 1925 c. 24.

Notes on Chapter II

Textual amendments

F1: Pt. 1 Ch. 2 (ss. 60-75) repealed (19.7.2003) by The Regulatory Reform (Housing Assistance) (England and Wales) Order 2002 (S.I. 2002/1860), arts. 1(3), 11(1), 15, Sch. 3 para. 27, Sch. 6 (with art. 11(2))