Explanatory note

Article 2 of this order transfers to the councils of districts and London boroughs any rights and liabilities vested in the London Residuary Body in respect of mortgages by housing associations in connection with projects other than those on which no housing association grant under the Housing Associations Act 1985 remains payable, and makes provision for payments to that Body by such councils in respect of such transfers.

Article 3 makes consequential provision for the treatment of sums payable for the purposes of Part VIII (prescribed expenditure) of the Local Government, Planning and Land Act 1980, and article 4 for the terms of transfer where the land subject to a transferred mortgage is situated in the areas of different councils.