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Explanatory note

Original text. Later amendments are not shown.

(This note is not part of the Order)

The Landlord and Tenant Act 1987 provides that service charge contributions made by tenants are to be held in trust in certain cases. Section 42 enables the Secretary of State to prescribe ways in which contributions held in the trust fund may be invested in addition to those generally authorised for the investment of trust funds. This Order enables the contributions to be invested in a deposit account with a body or person referred to in article 2 of the Order or in a share account with a building society.