Citation and commencement1
This Order may be cited as the Registered Social Landlords (Purposes or Objects) (Scotland) Order 2006 and shall come into force on 15th May 2006.
Amendment of registered social landlords' permissible purposes or objects2
1
Section 58 of the Housing (Scotland) Act 2001 is amended as follows.
2
In subsection (3)–
a
in paragraph (b) omit the fourth “or” and insert at the end “or on shared equity terms,”;
b
in paragraph (c) insert at the end “or on shared equity terms,”;
c
at the end2 insert–
h
giving financial assistance (by way of grant or loan or otherwise) to persons in order to help them to acquire houses on shared equity terms.
3
In subsection (6), after the definition of “block of flats”, insert–
“disposed of on shared equity terms” means disposed of under an arrangement in terms of which the person disposing of a house is entitled, on the occurrence of a subsequent disposal of the house, to be paid a sum to be calculated by reference to the value of the house,