Explanatory note
(This note is not part of the Order)
By virtue of the London Government Reorganisation (Housing Association Mortgages) Order 1987 (S.I. 1987/117), the rights and liabilities of the London Residuary Body in respect of mortgages by housing associations, other than those on which no housing association grant under the Housing Associations Act 1985 remained payable, were transferred to the councils of districts and London boroughs on 28th February and 30th April 1987.
Article 2 of this order makes provision for the transfer to such councils of the Body's remaining rights and liabilities in relation to mortgages by housing associations in three stages, according to the situation of the mortgaged land. Article 3 makes provision for the transfer of rights and liabilities in relation to certain Exchequer subsidies, and article 4 for mortgages of sites in more than one area. Article 5 transfers the relevant records