LegalizeThe Housing (Right to Buy) (Priority of Charges) Order 1999
Made: 24th March 1999
Coming into force: 14th April 1999
The Secretary of State, in exercise of the powers conferred upon him by section 156(4) of the Housing Act 19851 and all other powers enabling him on that behalf hereby makes the following Order:—
Citation and commencement
1
This Order may be cited as the Housing (Right to Buy) (Priority of Charges) Order 1999 and shall come into force on 14th April 1999.
Specified Body
2
The following body is hereby specified as an approved lending institution for the purposes of section 1562 of the Housing Act 1985 (priority of charges)—
Signed
Signed by authority of the Secretary of State.
Hilary Armstrong — Minister of State, — Department of the Environment, Transport and the Regions — 24th March 1999
Explanatory note
(This note is not part of the Order)
This Order specifies Finsbury Park Mortgage Funding Limited (“the Company”) as an approved lending institution for the purposes of section 156 of the Housing Act 1985 (priority of charges on disposals under the right to buy), in addition to the bodies already specified in that section or in previous Orders. The Company thereby also becomes an approved lending institution for the purposes of section 36 of the 1985 Act (priority of charges on voluntary disposals by local authority) and section 12 of the Housing Act 1996 (priority of charges on voluntary disposals by registered social landlords).
As section 156 of the Housing Act 1985 is applied by section 171A of that Act for cases in which a tenant’s right to buy is preserved and by section 17 of the Housing Act 1996 for cases in which a tenant has the right to acquire under section 16 of the 1996 Act, the Company is also an approved lending institution for the purposes of those rights.
Footnotes
1985 c. 68; section 156(4) was amended by the Housing Act 1988 (c. 50), Schedule 17, paragraph 106 and by Part XIII of Schedule 19 to the Housing Act 1996 (c. 52).
Section 156 was also amended by the Housing and Planning Act 1986 (c. 63), Schedule 5, paragraph 1(2) and (5) and by section 120(3) and (4) of the Leasehold Reform, Housing and Urban Development Act 1993 (c. 28).
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