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Statutory Instruments
1998 No. 320
HOUSING, ENGLAND AND WALES
The Housing (Right to Buy) (Priority of Charges) Order 1998
Made
16th February 1998
Coming into force
9th March 1998
The Secretary of State, in exercise of the powers conferred on him by section 156(4) of the Housing Act 1985(1) and of all other powers enabling him in that behalf, hereby makes the following Order-
Citation and commencement
1. This Order may be cited as the Housing (Right to Buy) (Priority of Charges) Order 1998 and shall come into force on 9th March 1998.
Specified Bodies
2. The following bodies are hereby specified as approved lending institutions for the purposes of section 156(2) of the Housing Act 1985 (priority of charges)-
(a)Mortgages PLC-Company No. 03320975
(b)The Money Store Limited-Company No. 03319091
(c)The Money Store Company (No. 1) Limited-Company No. 3456337
(d)The Money Store Company (No. 2) Limited-Company No. 3456341
(e)The Money Store Company (No. 3) Limited-Company No. 3456334
Signed by authority of the Secretary of State
Hilary Armstrong
Minister of State,
Department of the Environment, Transport and the Regions
16th February 1998
Explanatory Note
(This note is not part of the Order)
This Order specifies five bodies as approved lending institutions for the purposes of section 156 of the Housing Act 1985 (priority of charges on disposals under the right to buy). Other bodies have been specified by previous orders. Such bodies thereby also become approved lending institutions for the purposes of section 36 of the 1985 Act (priority of charges on voluntary disposals by local authorities) and section 12 of the Housing Act 1996 (priority of charges on voluntary disposals by registered social landlords).
As section 156 of the Housing Act 1985 is applied by section 171A of that Act for cases in which a tenant's right to buy is preserved and by section 17 of the Housing Act 1996 for cases in which a tenant has the right to acquire under section 16 of the 1996 Act, the specified bodies are also approved lending institutions for the purposes of those rights.
1985 c. 68; section 156(4) was amended by the Housing Act 1988 (c. 50), Schedule 17, paragraph 106 and by Part XIII of Schedule 19 to the Housing Act 1996 (c. 52).
Section 156 was also amended by the Housing and Planning Act 1986 (c. 63), Schedule 5, paragraph 1(2) and (5) and by section 120(3) and (4) of the Leasehold Reform, Housing and Urban Development Act 1993 (c. 28).