# The London Government Reorganisation (Non-Domestic Mortgages) Order 1988, Note: Explanatory note


(This note is not part of the Order)
Article 2 of this Order transfers to the councils of London boroughs the property, rights and liabilities of the London Residuary Body arising in respect of the mortgages of the property specified in the Schedule to the Order, which is mainly of an industrial or commercial character. It also makes provision for payments to that Body by such councils in respect of such transfers, and provides that such payments are not to be treated as capital money for the purposes of section 77 of the Local Government Act 1985 and the Local Government Reorganisation (Capital Money) (Greater London) Order 1987.

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Source: https://www.legislation.gov.uk/uksi/1988/323/note (the official version)
Page: https://openlegislation.uk/london-government-reorganisation-non-domestic-mortgages-order-1988/note
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.