1. These Regulations may be cited as the Housing (Change of Landlord) (Payment of Disposal Cost by Instalments) (Amendment) (No. 2) Regulations 1997 and shall come into force on 29th July 1997.

2. In regulation 3(3) of the Housing (Change of Landlord) (Payment of Disposal Cost by Instalments) Regulations 1990(2) (payment by instalments) for "7.18 per cent." substitute "7.35 per cent.".

3. The Housing (Change of Landlord) (Payment of Disposal Cost by Instalments) (Amendment) Regulations 1997(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 increasing, from 7.18 per cent. to 7.35 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). The Regulations 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.

Paragraph 1 of Schedule 18 to the Housing Act 1996 provides that Part IV of the Housing Act 1988 is repealed and article 3 of the Housing Act 1996 (Commencement No. 3 and Transitional Provisions) Order 1996 brought that paragraph into force on 1st October 1996.

Paragraph 12 of the Schedule to that Order provides that Part IV of the 1988 Act and the provisions mentioned in Part IX of Schedule 19 to that Order remain in force in respect of applications made under section 96 of the Housing Act 1988 (application to exercise right) which have not been disposed of before 1st October 1996 and acquisitions made before that date.