Regulation 1 Citation, commencement and application

These regulations may be cited as the Local Authorities (Disposal of Mortgages) Regulations 1986 and shall come into operation on 21st July 1986.

These regulations apply to the disposal on or after 1st September 1986 of a local authority's interest as mortgagee of any land under any description of mortgage, other than a disposal which is carried out in pursuance of a contract entered into before 1st April 1986.