1987 No. 1389 (S.105)

HOUSING, SCOTLAND

The Housing Corporation (Recognised Bodies for Heritable Securities Indemnities) (Scotland) Order 1987

Made

Coming into force

The Secretary of State, in exercise of the powers conferred on him by section 86(6) of the Housing Associations Act 19851, and of all other powers enabling him in that behalf, and with the consent of Treasury, hereby makes the following Order:

1

This Order may be cited as the Housing Corporation (Recognised Bodies for Heritable Securities Indemnities) (Scotland) Order 1987 and shall come into force on 13th August 1987.

2

The bodies set out in Schedule 1 to this Order are hereby designated for the purposes of section 86 of the Housing Associations Act 1985.

3

The classes or descriptions of bodies set out in Schedule 2 to this Order are hereby designated for the purposes of section 86 of the Housing Associations Act 1985.

James Douglas-HamiltonParliamentary Under Secretary of State,Scottish OfficeNew St. Andrew’s House,Edinburgh

SCHEDULE 1BODIES DESIGNATED FOR THE PURPOSES OF SECTION 86 OF THE HOUSING ASSOCIATIONS ACT 1985

Article 2

1

The Bank of England.

2

The Post Office.

SCHEDULE 2CLASSES OR DESCRIPTIONS OF BODIES DESIGNATED FOR THE PURPOSES OF SECTION 86 OF THE HOUSING ASSOCIATIONS ACT 1985

Article 3

1

Insurance companies to which Part II of the Insurance Companies Act 19822 applies.

2

Recognised banks and licensed institutions within the meaning of the Banking Act 19793 or authorised institutions under the Banking Act 19874.

3

Friendly societies and branches thereof which are registered within the meaning of the Friendly Societies Act 19745.

(This note is not part of the Order)

This Order designates 2 bodies and 3 classes or descriptions of bodies for the purposes of section 86 of The Housing Associations Act 1985. The bodies designated and any bodies belonging to the classes or descriptions designated become recognised bodies for the purposes of that section. Section 86, as amended by paragraph 4(6) of Schedule 2 to the Housing (Scotland) Act 1986, provides that the Housing Corporation may, with the approval of the Secretary of State, enter into agreements with building societies and recognised bodies providing for indemnities where such societies and bodies grant loans secured by way of heritable securities.