1 Citation and commencement
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.

2 Amendment of registered social landlords' permissible purposes or objects
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 end 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.”

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Paragraph (g) is inserted by section 178 of the Housing (Scotland) Act 2006 asp 1, which at the date of making of this Order had not been commenced.
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,”

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MALCOLM CHISHOLM A member of the Scottish Executive St Andrew’s House, Edinburgh 19th April 2006