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The Mortgage Indemnities (Recognised Bodies) Order 1992

S.I. 1992/2318 · Made 25 September 1992

Original text. legislation.gov.uk does not revise statutory instruments, so later amendments are not shown here. Changes made to it are listed under each provision when known.

HOUSING, ENGLAND AND WALES

Made 25th September 1992

Coming into force 16th October 1992

The Secretary of State, in exercise of the powers conferred on him by section 444(1) of the Housing Act 1985f1 and of all other powers enabling him in that behalf, and with the consent of the Treasury, hereby makes the following Order:

Annotations to the whole text

Footnotes

f1

1985 c. 68.

Contents

  1. 1Citation and Commencement
  2. 2Specified Bodies
  3. Signature
  4. Explanatory note

1Citation and Commencement

This Order may be cited as the Mortgage Indemnities (Recognised Bodies) Order 1992 and shall come into force on 16th October 1992.

2Specified Bodies

The following bodies are hereby specified as recognised bodies for the purposes of sections 442 and 443 of the Housing Act 1985 (agreements to indemnify mortgagees and contributions to mortgage costs):

(a)

Barshelfco (No. 39) Limited;

(b)

Barshelfco (No. 40) Limited;

(c)

Barshelfco (No. 41) Limited.

(d)

Bradford & Bingley Homeloans Limited;

(e)

Bradford & Bingley Homeloans Management Limited;

(f)

Bradford & Bingley Mortgages Limited;

(g)

Bradford & Bingley Mortgage Management Limited;

(h)

North Yorkshire Mortgage Limited;

(i)

Northern Rock Mortgage Services Limited.

Signature

Michael Howard

Secretary of State for the Environment

3rd September 1992

We consent,

Irvine Patnick

Gregory Knight

Two of the Lords Commissioners of Her Majesty’s Treasury

25th September 1992

Explanatory note

(This note is not part of the Order)

This Order specifies nine additional bodies as recognised bodies for the purposes of sections 442 and 443 of the Housing Act 1985. (Other bodies have been specified by previous Orders).

Section 442 provides for a local authority, with the approval of the Secretary of State, to enter into agreements with a recognised body to indemnify such a body against any loss or expense arising from an advance made by it on the security of a house or flat bought from the local authority, a new town corporation, an urban development corporation, the Development Board for Rural Wales, the Corporation or a registered housing association.

Section 443 provides for a local authority to contribute towards costs incurred in connection with a legal charge to secure such an advance.