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Housing Act 1969
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- UK Public General Acts
- 1969 c. 33
- PART VI
- Section 79
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79Right to terminate period for which option notice has effect
(1)In section 24(3) of the [1967 c. 29.] Housing Subsidies Act 1967 the following shall be inserted after paragraph (vi):—
“(vii)the taking effect of a notice under section 26A of this Act.”
(2)After section 26 of that Act there shall be inserted the following section:—
“26A(1)Where an option notice has been given in respect of a loan the person or persons in whom the rights and obligations under the repayment contract are for the time being vested may by notice to the lender bring the period for which the option notice has effect to an end on 31st March of any year not earlier than 1973, but only if not less than five years have then elapsed since the date of the repayment contract.
(2)A notice under this section must be in writing and in such form as the Minister may direct and must be given not less than three months before the date on which it is to take effect.”
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