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The Housing (Right to Buy) (Priority of Charges) (No. 2) Order 1987

S.I. 1987/1810 · Made 14 October 1987

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HOUSING, ENGLAND AND WALES

Made 14th October 1987

Coming into force 4th November 1987

The Secretary of State for the Environment, as respects England, and the Secretary of State for Wales, as respects Wales, in exercise of the powers conferred on them by section 156(4) of the Housing Act 1985f1, and of all other powers enabling them in that behalf, and with the consent of the Treasury, hereby make the following Order:

Annotations to the whole text

Footnotes

f1

1985 c. 68.

Contents

  1. 1Article 1
  2. 2Article 2
  3. Signature
  4. Schedule: BODIES SPECIFIED FOR THE PURPOSES OF SECTION 156(4) OF THE HOUSING ACT 1985
  5. 1Paragraph 1
  6. 2Paragraph 2
  7. Explanatory note

1

This Order may be cited as The Housing (Right to Buy) (Priority of Charges) (No. 2) Order 1987 and shall come into force on 4th November 1987.

2

The bodies named in the Schedule to this Order are hereby specified for the purposes of section 156(4) of the Housing Act 1985.

Signature

Nicholas Ridley

Secretary of State for the Environment

29th September 1987

Peter Walker

Secretary of State for Wales

30th September 1987

We consent,

Tony Durant

David Lightbown

Two of the Lords Commissioners of Her Majesty’s Treasury

14th October 1987

1

Abbey Life Executive Mortgages Limited.

2

Abbey Life Funding Limited.

Explanatory note

(This note is not part of the Order)

Under the Housing Act 1985 (“the 1985 Act”) liability to repay discount following the exercise of the right to buy is secured by a charge on the dwelling-house. Such charges do not have priority over certain charges securing advances by bodies falling within section 156(4) of the 1985 Act.

This Order specifies two additional bodies for the purposes of section 156(4) of the 1985 Act. These two bodies are also approved lending institutions for the purposes of section 36(4) of the 1985 Act and paragraph 2(4) of Schedule 2 to the Housing Associations Act 1985 (c. 69) dealing with voluntary disposals at a discount by local authorities and housing associations respectively.