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The Mortgage Indemnities (Recognised Bodies)(No. 2) Order 1990
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Statutory Instruments
1990 No. 2391
HOUSING, ENGLAND AND WALES
The Mortgage Indemnities (Recognised Bodies)(No. 2) Order 1990
Made
29th November 1990
Coming into force
20th December 1990
The Secretary of State, in exercise of the powers conferred on him by section 444(1) of the Housing Act 1985(1) and of all other powers enabling him in that behalf, and with the consent of the Treasury, hereby makes the following Order:
1. This Order may be cited as the Mortgage Indemnities (Recognised Bodies)(No. 2) Order 1990 and shall come into force on 20th December 1990.
2. Capital Home Loans Limited is hereby specified as a recognised body for the purposes of sections 442 and 443 of the Housing Act 1985.
Chris Patten
One of Her Majesty’s Principal Secretaries of State
23rd November 1990
We consent,
Thomas Sackville
Gregory Knight
Two of the Lords Commissioners of Her Majesty’s Treasury
29th November 1990
Explanatory Note
(This note is not part of the Order)
This Order specifies one additional body as a recognised body for the purposes of sections 442 and 443 of the Housing Act 1985. (Other bodies have been specified by previous Orders).
Section 442 provides for a local authority, with the approval of the Secretary of State, to enter into agreements with a recognised body to indemnify such a body against any loss or expense arising from an advance made by it on the security of a house or flat bought from a local authority, a new town corporation, an urban development corporation, the Development Board for Rural Wales, the Corporation, or a registered housing association. Section 443 provides for a local authority to contribute towards costs incurred in connection with a legal charge to secure such an advance.
(1)
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