20.—(1) Where this Part of these regulations applies the mortgagee shall have the right by deed to vest the dwelling in themselves and the provisions of Schedule 17 shall apply with respect to the vesting subject as provided below.
(2) In its application to a vesting in pursuance of the right given by these regulations Schedule 17 shall have effect as if—
(a)the words “if the county court gives it leave to do so” in sub-paragraph (1) of paragraph 1, and sub-paragraphs (2) and (3) of that paragraph, were omitted;
(b)references to “the house” were references to “the dwelling”.
(3) The vesting of a dwelling in pursuance of the right given by these regulations shall be treated as a relevant disposal for the purposes of—
(a)the provisions of Parts II and V of the Act relating to the covenant required by section 35 or 155 (repayment of discount on early disposal), and
(b)any provision of the conveyance or grant of the dwelling to the like effect as the covenant required by those sections.