United Kingdom Statutory Instruments
You are here: BAILII >> Databases >> United Kingdom Statutory Instruments >> The Mortgage Indemnities (Recognised Bodies) Order 1993 No. 304
URL: http://www.bailii.org/uk/legis/num_reg/1993/uksi_1993304_en.html
|
|
[Home] [Databases] [World Law] [Multidatabase Search] [Help] [Feedback] | |
United Kingdom Statutory Instruments |
||
|
You are here: BAILII >> Databases >> United Kingdom Statutory Instruments >> The Mortgage Indemnities (Recognised Bodies) Order 1993 No. 304 URL: http://www.bailii.org/uk/legis/num_reg/1993/uksi_1993304_en.html |
||
[New search] [Help]
Statutory Instruments
HOUSING, ENGLAND AND WALES
Made
17th February 1993
Coming into force
10th March 1993
The Secretary of State, in exercise of the powers conferred on him by section 444(1) of the Housing Act 1985(1) and of all other powers enabling him in that behalf, and with the consent of the Treasury, hereby makes the following Order:
1. This Order may be cited as the Mortgage Indemnities (Recognised Bodies) Order 1993 and shall come into force on 10th March 1993.
2. 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)Derbyshire Home Loans Limited;
(b)Derbyshire Mortgages Limited;
(c)Norwich & Peterborough (AMC) Limited;
(d)Portman Financial and Mortgage Services Limited;
(e)Portman Land Services Limited;
(f)Portman Loans Limited;
(g)Portman Mortgage Services Limited.
Department of the Environment
Michael Howard
One of Her Majesty's Principal Secretaries of State
2nd February 1993
We consent,
Irvine Patnick
Tim Wood
Two of the Lords Commissioners of Her Majesty's Treasury
17th February 1993
(This note is not part of the Order)
This Order specifies seven 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 Housing Corporation, Scottish Homes, Housing for Wales 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.