1. These Regulations may be cited as the Housing (Change of Landlord) (Payment of Disposal Cost by Instalments) (Amendment) Regulations 1996 and shall come into force on 29th February 1996.

2. In regulation 3(3) of the Housing (Change of Landlord) (Payment of Disposal Cost by Instalments) Regulations 1990(2) (payment by instalments) for "7.99 per cent." substitute "7.48 per cent.".

3. The Housing (Change of Landlord) (Payment of Disposal Cost by Instalments) (Amendment No. 2) Regulations 1995(3) are revoked.

4. Regulations 2 and 3 do not apply in respect of any period before the date these Regulations come into force (notwithstanding that interest included in the amount of an instalment is paid on or after that date).

Explanatory Note

(This note is not part of the Regulations)

These Regulations amend the Housing (Change of Landlord) (Payment of Disposal Cost by Instalments) Regulations 1990 by decreasing, from 7.99 per cent. to 7.48 per cent., the rate of interest on outstanding disposal costs which are payable by instalments under Part IV of the Housing Act 1988 (change of landlord: secure tenants). They also revoke the Regulations which prescribed the previous interest rate. Regulation 4 preserves the previous interest rate in respect of any period before these Regulations come into force.