Citation, commencement and interpretation

1.-(1) This Order may be cited as the London Government Reorganisation (Housing Association Mortgages) (No. 2) Order 1987, and shall come into force on 29th January 1988.

(2) In this Order-

"the relevant council", in relation to-

means the council of the district or London borough in which the land, or as the case may be, any such building or dwelling, is situated;

"the transfer date"-

and any reference to the Greater London Council includes a reference to any predecessor in title of that Council.

Transfer of housing association mortgages

2.-(1) This article applies to any mortgage granted by a housing association to secure a loan by the Greater London Council.

(2) Subject to articles 3 and 4, all rights and liabilities of the London Residuary Body in respect of any mortgage to which this article applies shall on the transfer date vest in the relevant council on the terms mentioned in paragraph (3).

(3) In relation to any mortgage to which this article applies, the relevant council shall pay to the London Residuary Body a sum equal to the aggregate of all amounts outstanding by way of principal and interest in respect of advances made to the association by the Greater London Council.

Exchequer contributions

3.-(1) All rights and liabilities of the London Residuary Body arising in connection with the duty of the Secretary of State under any enactment mentioned in paragraph (2) to pay contributions or subsidies towards arrangements between the Greater London Council and any housing association for the provision or conversion of any building or dwelling shall on 1st April 1988 vest in the relevant council.

(2) The enactments referred to in paragraph (1) are-

• sections 12 and 15 of the Housing (Financial Provisions) Act 1958(2);

• section 12 of the Housing Subsidies Act 1967(3), and

• section 21 of the Housing Act 1969(4).

Land situated in more than one area

4.  Where in respect of any mortgage to which article 2 applies the mortgaged land is situated in the area of more than one relevant council the rights and liabilities in respect of the mortgage shall vest in those councils jointly on such terms as may be agreed between those councils or, failing such agreement, determined by a person so agreed on, or appointed in default of agreement by the Secretary of State; and the sum payable by virtue of article 2(3) shall be recoverable by the London Residuary Body from those councils jointly or severally.

Records

5.-(1) Subject to paragraph (2), all records of the London Residuary Body relating exclusively to any rights or liabilities transferred by this Order shall vest on the date of that transfer in the council to which those rights and liabilities are transferred.

(2) All such records as are referred to in paragraph (1) and relate to rights and liabilities which by virtue of article 4 vest in more than one council shall vest in those councils jointly.

Article 1(2)

SCHEDULE

PART ITransfers on 29th January 1988

• Bexley

• Bromley

• Croydon

• Greenwich

• Lambeth

• Lewisham

PART IITransfers on 29th February 1988

• Barking and Dagenham

• Hackney

• Haringey

• Havering

• Newham

• Redbridge

• Southwark

• Tower Hamlets

• Waltham Forest

• Wandsworth

PART IIITransfers on 30th March 1988

• Barnet

• Brent

• Camden

• Ealing

• Enfield

• Hammersmith and Fulham

• Harrow

• Hillingdon

• Hounslow

• Islington

• Kensington and Chelsea

• Kingston upon Thames

• Merton

• Richmond upon Thames

• Sutton

• Westminster

Explanatory Note

(This note is not part of the Order)

By virtue of the London Government Reorganisation (Housing Association Mortgages) Order 1987 (S.I. 1987/117), the rights and liabilities of the London Residuary Body in respect of mortgages by housing associations, other than those on which no housing association grant under the Housing Associations Act 1985 remained payable, were transferred to the councils of districts and London boroughs on 28th February and 30th April 1987.

 .  Article 2 of this order makes provision for the transfer to such councils of the Body's remaining rights and liabilities in relation to mortgages by housing associations in three stages, according to the situation of the mortgaged land. Article 3 makes provision for the transfer of rights and liabilities in relation to certain Exchequer subsidies, and article 4 for mortgages of sites in more than one area. Article 5 transfers the relevant records