(1)F1. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
(2)F2. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
(3)An advance shall not be made for the purpose specified in the closing words of [F3subsection (1) of section 435] (repayment of previous loan) [F4or in subsection (1A)(b) of that section (repayment of previous loan for improvements etc)], unless the authority satisfy themselves that the primary effect of the advance will be to meet the housing needs of the applicant by enabling him either—
(a)to retain an interest in the house concerned, or
(b)to carry out such works in relation to the building or house concerned as would be eligible for an advance under
[F5(i)subsection (1)(c) of that section (conversion), or
(ii)subsection (1A)(a) of that section (improvements, etc),
as the case may be.]
Textual Amendments
F1S. 439(1) repealed (6.4.2006 for E. and 16.6.2006 for W.) by Housing Act 2004 (c. 34), ss. 265(1), 266, 270(4)(5), Sch. 15 para. 28, Sch. 16; S.I. 2006/1060, art. 2(1) (with Sch.); S.I. 2006/1535, art. 2(c)(v) (with Sch.)
F2S. 439(2) repealed (6.4.2006 for E. and 16.6.2006 for W.) by Housing Act 2004 (c. 34), ss. 265(1), 266, 270(4)(5), Sch. 15 para. 28, Sch. 16; S.I. 2006/1060, art. 2(1)(e)(v) (with Sch.); S.I. 2006/1535, art. 2(c)(v) (with Sch.)
F3Words in s. 439(3) substituted (18.7.2003) by S.I. 2002/1860, arts. 1(3), 10, Sch. 2 para. 4(3)(b)(i) (with art. 10(3))
F4Words in s. 439(3) inserted (18.7.2003) by S.I. 2002/1860, arts. 1(3), 10, Sch. 2 para. 4(3)(b)(ii) (with art. 10(3))
F5S. 439(3)(b)(i)(ii) and words in s. 439(3)(b) substituted for words in s. 439(3)(b) (18.7.2003) by S.I. 2002/1860, arts. 1(3), 10, Sch. 2 para. 4(3)(b)(iii) (with art. 10(3))