PART V AMENDMENTS OF THE ORDERS OF 1981, 1983 AND 1986
CHAPTER I AMENDMENTS OF THE ORDER OF 1981
Winding up of home purchase assistance scheme94
1
The Department may by order make provision for the purpose of bringing to an end the scheme for assistance for first-time buyers which is contained in the assistance legislation.
2
Without prejudice to the generality of the power conferred by paragraph (1), an order under that paragraph—
a
may specify a date or dates with effect from which account will no longer be taken under the assistance legislation of matters specified in the order;
b
may vary the terms of advances to lending institutions so as to commute what would otherwise be a number of payments or repayments to or by such an institution into a single payment or a smaller number or payments of such amount and payable at such time or times as may be determined in accordance with the order; and
c
may provide for the amendment or repeal, in whole or in part, of the assistance legislation with effect from such date or dates and subject to such transitional provisions as may be specified in the order.
3
The following powers, namely—
a
the power conferred on the Department under Article 153(3) of the Order of 1981 to relax or modify the conditions in that paragraph; and
b
any power to make an order under any provision of the assistance legislation,
may be exercised so as to make provision for the purpose referred to in paragraph (1).
4
In this Article “the assistance legislation” means Part IX of, and Schedule 10 to, the Order of 1981.