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The Mortgage Indemnities (Recognised Bodies) Order 1994

S.I. 1994/1763 · Made 1 July 1994

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 1st July 1994

Coming into force 22nd July 1994

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, with the consent of the Treasury and in accordance with representations made by Barshelfco (No. 15) Limitedf2, hereby makes the following Order—

Annotations to the whole text

Footnotes

f1

1985 c. 68; section 444 was amended by the Housing and Planning Act 1986 (c. 63), Schedule 5, paragraph 34.

f2

See section 444(3) of the Housing Act 1985 and article 3 of this Order.

Contents

  1. 1Citation and commencement
  2. 2Specified bodies
  3. 3Variation of previous Order
  4. Signature
  5. Explanatory note

1Citation and commencement

This Order may be cited as the Mortgage Indemnities (Recognised Bodies) Order 1994 and shall come into force on 22nd July 1994.

2Specified bodies

The following bodies are hereby specified as recognised bodies for the purposes of sections 442f1 and 443 of the Housing Act 1985 (agreements to indemnify mortgages and contributions to mortgage costs)—

(a)

Alliance & Leicester Mortgage Loans (No. 2) Limited;

(b)

Alliance & Leicester Mortgage Loans (No. 3) Limited;

(c)

Alliance & Leicester Mortgage Loans (No. 4) Limited;

(d)

Britannia Mortgage Company Number One Limited;

(e)

Britannia Mortgage Company Number Two Limited;

(f)

Collateralised Mortgage Securities (No. 16) PLC;

(g)

Saffron Walden Mortgage Services Limited;

(h)

Stroud and Swindon Mortgage Company (No. 2) Limited.

3Variation of previous Order

The words “(a) Barshelfco No. 15 Limited” shall be omitted from article 2 of the Mortgage Indemnities (Recognised Bodies) Order 1991f1.

Signature

Signed by authority of the Secretary of State.

G. S. K. Young

Minister of State,

Department of the Environment

28th June 1994

We consent,

Tim Wood

Tim Kirkhope

Two of the Lords Commissioners of Her Majesty’s Treasury

1st July 1994

Explanatory note

(This note is not part of the Order)

This Order specifies eight 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) and omits Barshelfco (No. 15) Limited, at its request, from a list of bodies specified as recognised bodies by a previous Order.

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 corporatioin, an urban development corporation, the Housing Corporation, Housing for Wales, Scottish Homes 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.