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You are here: BAILII >> Databases >> United Kingdom Statutory Instruments >> The Housing (Right to Buy) (Priority of Charges) (No. 2) Order 1987 No. 1810 URL: http://www.bailii.org/uk/legis/num_reg/1987/uksi_19871810_en_1.html |
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Statutory Instruments
HOUSING, ENGLAND AND WALES
Made
14th October 1987
Coming into force
4th November 1987
The Secretary of State for the Environment, as respects England, and the Secretary of State for Wales, as respects Wales, in exercise of the powers conferred on them by section 156(4) of the Housing Act 1985(1), and of all other powers enabling them in that behalf, and with the consent of the Treasury, hereby make the following Order:
1. This Order may be cited as The Housing (Right to Buy) (Priority of Charges) (No. 2) Order 1987 and shall come into force on 4th November 1987.
2. The bodies named in the Schedule to this Order are hereby specified for the purposes of section 156(4) of the Housing Act 1985.
Nicholas Ridley
Secretary of State for the Environment
29th September 1987
Peter Walker
Secretary of State for Wales
30th September 1987
We consent,
Tony Durant
David Lightbown
Two of the Lords Commissioners of Her Majesty's Treasury
14th October 1987
1. Abbey Life Executive Mortgages Limited.
2. Abbey Life Funding Limited.
(This note is not part of the Order)
Under the Housing Act 1985 ("the 1985 Act") liability to repay discount following the exercise of the right to buy is secured by a charge on the dwelling-house. Such charges do not have priority over certain charges securing advances by bodies falling within section 156(4) of the 1985 Act.
This Order specifies two additional bodies for the purposes of section 156(4) of the 1985 Act. These two bodies are also approved lending institutions for the purposes of section 36(4) of the 1985 Act and paragraph 2(4) of Schedule 2 to the Housing Associations Act 1985 (c. 69) dealing with voluntary disposals at a discount by local authorities and housing associations respectively.