S.I. No. 293/1977:

HOUSING AUTHORITIES (LOANS FOR ACQUISITION OR CONSTRUCTION OF HOUSES) (AMENDMENT) (No. 2) REGULATIONS, 1977.

HOUSING AUTHORITIES (LOANS FOR ACQUISITION OR CONSTRUCTION OF HOUSES) (AMENDMENT) (No. 2) REGULATIONS, 1977.

The Minister for the Environment, in exercise of the powers conferred on him by sections 5 and 39 of the Housing Act, 1966 (No. 21 of 1966) with the consent of the Minister for Finance hereby makes the following Regulations:--

1. In these Regulations "the Principal Regulations" means the Housing Authorities (Loans for Acquisition or Construction of Houses) Regulations, 1972 ( S.I. No. 29 of 1972 ).

2. (1) These Regulations may be cited as the Housing Authorities (Loans for Acquisition or Construction of Houses) (Amendment) (No. 2) Regulations, 1977.

(2) The citation the Housing Authorities (Loans for Acquisition or Construction of Houses) Regulations, 1972 to 1977 shall include these Regulations.

3. The Principal Regulations are hereby amended by the insertion after paragraph (g) of sub-article (1) of article 3, inserted in the Principal Regulations by the Housing Authorities (Loans for Acquisition or Construction of Houses) (Amendment) Regulations, 1973 ( S.I. No. 250 of 1973 ), of the following paragraphs:--

"(h) in the case of a loan for the construction of a house the foundations of which were laid after the 26th day of May, 1977, or in the case of a loan for the acquisition of a house the contract for the acquisition of which was entered into after the 26th day of May, 1977, £7,000 or 95 per cent of the value of the house excluding from that value the amount of any grant under any enactment, whichever is the less."

GIVEN under the Official Seal of the Minister for the Environment

this 12th day of September, 1977.

SYLVESTER BARRETT,

Minister for the Environment.

The Minister for Finance hereby consents to the foregoing Regulations.

Dated this 12th day of September, 1977.

SEOIRSE O COLLA,

Minister for Finance.

EXPLANATORY NOTE.

These Regulations amend the Housing Authorities (Loans for Acquisition or Construction of Houses) Regulations, 1972 and 1973 (S.I. Nos. 29 of 1972 and 250 of 1973).

The Regulations provide for an increase in the amount of a loan from £4,500 to £7,000 for a house where the foundations were laid after the 26th May, 1977 or for the acquisition of a house where the contract for such acquisition was entered into after that date.