The Income Tax (Interest Relief) (Qualifying Lenders) Order 1987

Made: 15th July 1987

The Treasury, in exercise of the powers conferred on them by paragraph 14(2) of Schedule 7 to the Finance Act 1982[^f00001], hereby make the following Order:

1

This Order may be cited as the Income Tax (Interest Relief) (Qualifying Lenders) Order 1987.

2

The bodies named in article 3 below are prescribed for the purposes of Part IV of Schedule 7 to the Finance Act 1982 and shall become qualifying lenders with effect from the dates and in respect of the loans specified in the following paragraphs—

• (a) with effect from the thirtieth day after the making of this Order, in relation to new loans (that is loans which are made on or after that day);

• (b) with effect from the making of this Order, in relation to transferred loans (that is loans transferred from another qualifying lender on or after the making of this Order the interest on which is at the time of transfer relevant loan interest payable by a qualifying borrower);

• (c) with effect from the 6th April 1988, in relation to other loans made by the body concerned before the thirtieth day after the making of this Order.

3

The following are the bodies referred to in article 2 above —

• Abbey Life Funding Limited

• Abbey Life Mortgage Securities Limited

• Aitken Hume Limited

• Algemene Bank Nederland N.V.

• Amsterdam — Rotterdam Bank N.V.

• Anglo Caledonian Mortgages No. 1 Limited

• Anglo Caledonian Mortgages No. 2 Limited

• Anglo Caledonian Mortgages No. 3 Limited

• Anglo Caledonian Mortgages No. 4 Limited

• Anglo Caledonian Mortgages No. 5 Limited

• Anglo Caledonian Mortgages No. 6 Limited

• Banco Di Napoli

• Bank of Tokyo International Limited

• BIM Securities No. 1 Limited

• BIM Securities No. 2 Limited

• BIM Securities No. 3 Limited

• BIM Securities No. 4 Limited

• BIM Securities No. 5 Limited

• Comfort Finance Limited

• Credit Agricole Mortgage Company No. 1 Limited

• Credit Agricole Mortgage Company No. 2 Limited

• Credit Agricole Mortgage Company No. 3 Limited

• Creditanstalt — Bankverein

• Credit Suisse

• Daiwa Europe Finance p.l.c.

• Department of Agriculture & Fisheries for Scotland

• Dresdner Bank Aktiengesellschaft

• Dualrate p.l.c.

• Firstcontrol p.l.c.

• First Mortgage Securities (No. 1) p.l.c.

• First Mortgage Securities (No. 2) Limited

• First Mortgage Securities (No. 3) Limited

• First Mortgage Securities (No. 4) Limited

• First Mortgage Securities (No. 5) Limited

• First Mortgage Securities (No. 6) Limited

• First Mortgage Securities (No. 7) Limited

• First Mortgage Securities (No. 8) Limited

• First Mortgage Securities (No. 9) Limited

• First Mortgage Securities (No. 10) Limited

• Furnable Limited

• Gainbudget p.l.c.

• Hill Samuel Finance (No. 8) Limited

• Hill Samuel Finance (No. 9) Limited

• Hill Samuel Finance (No. 18) Limited

• Issuebudget p.l.c.

• Localmerge p.l.c.

• Marketbudget p.l.c.

• Maxiannual Limited

• Megson Properties Limited

• Mortgage Funding No. 2 Limited

• Mortgage Funding No. 3 Limited

• Mortgage Funding No. 4 Limited

• Mortgage Funding No.5 Limited

• Mortgage Holdings (Berkley) Limited

• Mortgage Holdings (Grosvenor) Limited

• Mortgage Holdings (Kensington) Limited

• Mortgage Holdings (Mayfair) Limited

• Mortgage Holdings (Richmond) Limited

• Mortgage Holdings (Westminster) Limited

• NM Home Loans Limited

• Providence Capitol Mortgage Services Limited

• Regency Funding Limited

• Reliance Trust Limited

• Residential Mortgage Corporation Limited

• Saudi American Bank

• SPI (1987) Limited

• Standard Chartered Mortgage Finance Limited

• Thanemarsh Limited

• The Bank of Nova Scotia

• The National Bank of Dubai Limited

• The Royal Bank of Canada

• Tiddington Finance Limited

• Tintwatch Limited

• Trushelfco (No. 1027) Limited

• Trushelfco (No. 1061) Limited

• Venueshot Limited

4

Article 3 of the Income Tax (Interest Relief) (Qualifying Lenders) Order 1986[^f00002] shall be amended by omitting the words “UK Provident Mortgage Services Limited”.

Signed

Mark Lennox-Boyd — Michael Neubert — Two of The Lords Commissioners of Her Majesty’s Treasury. — 15th July 1987

Explanatory note

(This note is not part of the Order)

By article 2, the bodies named in article 3 are prescribed as qualifying lenders so that interest on qualifying loans made by them may be paid to them under deduction of tax under the tax deduction scheme introduced by the Finance Act 1982 from the dates specified in the Order. By article 4, the Income Tax (Interest Relief) (Qualifying Lenders) Order 1986 (S.I. 1986/386) is amended by omitting from article 3 thereof “UK Provident Mortgage Services Limited”.

Previous Orders made under paragraph 14(2) of Schedule 7 to the Finance Act 1982 which are in force are S.I. 1983/1907, S.I. 1984/1945, S.I. 1985/1697, S.I. 1986/386, S.I. 1986/1440 and S.I. 1986/2191.

Footnotes

[^f00001]: 1982 c. 39; paragraph 14 of Schedule 7 was amended by section 17(3) and (4) of the Finance Act 1983 (c. 28) and by section 37(4) of the Finance Act 1985 (c. 54).

[^f00002]: S.I. 1986/386.