1. This Order may be cited as the Income Tax (Interest Relief) (Qualifying Lenders) (No. 2) Order 1991.

2. The bodies named in article 3 below are prescribed for the purposes of section 376 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 makng 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 1992, 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 Services Limited

• Barshelfco (No. 39) Limited

• Barshelfco (No. 40) Limited

• Barshelfco (No. 41) Limited

• Bavarian Mortgages No. 1 PLC

• Bavarian Mortgages No. 2 PLC

• Bavarian Mortgages No. 3 PLC

• Bavarian Mortgages No. 4 PLC

• Bavarian Mortgages No. 5 PLC

• Bavarian Mortgages No. 6 PLC

• Bayerische Hypotheken-und Wechsel-Bank A. G.

• Birmingham Mortgage Company Limited

• Capital Finance Company Limited

• Capital Motivation Limited

• Capital World Travel Limited

• Chadcroft Limited

• Chelsea Mortgage Services Limited

• Cheshire Mortgage Corporation Limited

• Crédit Lyonnais

• Collateralised Mortgage Securities (No. 15) PLC

• Collateralised Mortgage Securities (No. 16) PLC

• Collateralised Mortgage Securities (No. 17) PLC

• Collateralised Mortgage Securities (No. 18) PLC

• Derbyshire Home Loans Limited

• Derbyshire Mortgages Limited

• Diamond Mortgage Funding Limited

• Goode Durrant Bank PLC

• HMC Financing 9 Limited

• HMC Financing 10 Limited

• HMC Financing 11 Limited

• Household Mortgage Personal Finance Ltd

• Medway Housing Society Limited

• Newcastle Mortgage Corporation Limited

• NHL Seventeeth Funding Limited

• NHL Twentieth Funding Limited

• Personal Receivables Loan Securitisation (No. 2) Limited

• Personal Receivables Loan Securitisation (No. 3) Limited

• Personal Receivables Loan Securitisation (No. 4) Limited

• Personal Receivables Loan Securitisation (No. 5) Limited

• PS 9 Limited

• Stars 3 PLC

• Stars 4 PLC

• Stars 5 PLC

• Stars 6 PLC

• St. Johns Priory Parks Limited

4. Article 4 of the Income Tax (Interest Relief) (Qualifying Lenders) Order 1985(2) shall be amended by omitting the words-

• "Crown Home Finance Limited".

5. Article 3 of the Income Tax (Interest Relief) (Qualifying Lenders) (No. 3) Order 1986(3) shall be amended by omitting the words-

• "Byggeriets Realkreditfond".

6. Article 3 of the Income Tax (Interest Relief) (Qualifying Lenders) Order 1988(4) shall be amended by omitting the words-

• "NM Home Loans No. 2 Limited".

Explanatory Note

(This note is not part of the Order)

A person who is a qualifying borrower, and who makes a payment of relevant loan interest to a qualifying lender, is entitled to pay that interest under deduction of tax under the mortgage interest relief at source scheme (MIRAS).

This Order prescribes the bodies named in article 3 as qualifying lenders from the dates specified in article 2.

This Order also amends previous Orders (in articles 4 to 6) by omitting the bodies named in those articles. These bodies therefore cease to be qualifying lenders.

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, 1989/908 and 1932, 1990/1298 and 1991/618.