Statutory Instruments
INCOME TAX
Made
19th October 1989
The Treasury, in exercise of the powers conferred on them by section 376(5) of the Income and Corporation Taxes Act 1988(1), hereby make the following Order:
1. This Order may be cited as the Income Tax (Interest Relief) (Qualifying Lenders) (No. 2) Order 1989.
2. The bodies named in article 3 below are prescribed for the purposes of section 376(2) of the Income and Corporation Taxes Act 1988 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 1990, 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-“
Albion Home Loans Limited
Bradford & Bingley Homeloans Limited
Bradford & Bingley Homeloans Management Limited
Bradford & Bingley Mortgages Limited
Bradford & Bingley Mortgage Management Limited
Cardmead Limited
Central Mortgage Finance Limited
First Mortgage Securities (NO. 17) Limited
First Mortgage Securities (NO. 18) Limited
First Mortgage Securities (NO. 19) Limited
First Mortgage Securities (NO. 20) Limited
First Nationwide Limited
Gracechurch Mortgage Finance (NO. 3) Limited
Grainsway Limited
Granamore Limited
Gunnton Limited
Halifax Loans (NO. 2) Limited
Halifax Loans (NO. 3) Limited
Halifax Loans (NO. 4) Limited
Household Finance Limited
Kleinwort Benson Investment Management Limited
Leeds and Holbeck Mortgage Corporation Limited
Maes Funding NO. 3 Limited
Maes Funding NO. 4 Limited
Maes Funding NO. 5 Limited
Maes Funding NO. 6 Limited
Maes Funding NO. 7 Limited
Maes Private Funding NO. 2 Limited
Maxpine Finance Limited
McPhoy Finance (Eurowest) Limited
Mortgage Asset Management Limited
Mortgage Services Limited
Mortgages Scotland plc
Nationwide Financial Service Limited
Nationwide Home Loans Limited
Nationwide Insurance Service Limited
Nationwide Mortgage Corporation Limited
Nationwide Property Services (NBS) Limited
North West Investment Company Limited
Nurange Limited
Nykredit
Orbit Housing Association
Orion Royal Bank Limited
Peaktons Limited
Post Office Finance Limited
Rinton Limited
Rucome Limited
Saw Mortgage Company Limited
Secondary Marketing Investment Conduit Limited
Temple Court Originations Limited
Temple Court Mortgages (No. 1) Limited
Temple Court Mortgages (No. 2) Limited
Temple Court Mortgages (No. 3) Limited
The Housing Finance Corporation Limited
Universal Credit Limited
Wernton Limited
John Taylor
Kenneth Carlisle
Two of the Lords Commissioners of Her Majesty's Treasury
19th October 1989
(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 mortgage interest relief at source scheme (MIRAS) (introduced by the Finance Act 1982 (c. 39)) from the dates specified in the Order.
Previous Orders which are in force are S.I. 1983/1907, 1984/1945, 1985/1697, 1986/386, 1440 and 2191, 1987/1224 and 2127, 1988/781 and 1962 and 1989/908.
Section 376 was amended by paragraph 115 of Schedule 17 to the Housing Act 1988 (c. 50).