PART XIVLOANS FOR ACQUISITION OR IMPROVMEENT OF HOUSING

Miscellaneous

453Further advances in case of disposal on shared ownership lease.

1

Where—

a

a lease of a house, granted otherwise than in pursuance of the provisions of part V (the right to buy) relating to shared ownership leases, contains a provision to the like effect as that required by paragraph 1 of Schedule 8 (terms of shared ownership lease: right of tenant to acquire additional shares), and

b

a housing authority has, in the exercise of any of its powers, left outstanding or advanced any amount on the security of the house.

that power includes power to advance further amounts for the purpose of assisting the tenant to make payments in pursuance of that provision.

2

In subsection (1) “housing authority” means—

  • a local authority,

  • a new town corporation,

  • the Development Board for Rural Wales, or

  • a registered housing association.