Explanatory note

This Order specifies one additional body as a recognised body 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 a 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.