- Y Diweddaraf sydd Ar Gael (Diwygiedig)
- Gwreiddiol (a wnaed Fel)
The Loans for Mortgage Interest Regulations (Northern Ireland) 2017
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- Rheolau Statudol Gogledd Iwerddon
- 2017 No. 176
- Regulation 5
Pa Fersiwn
Status:
Dyma’r fersiwn wreiddiol (fel y’i gwnaed yn wreiddiol).
Conditions to meet before the loan payments can be made
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adran has no associated
Memorandwm Esboniadol
5.—(1) The Department may make the loan payments if—
(a)the loan payments offer is accepted in accordance with regulation 4 (acceptance of loan payments offer); and
(b)the conditions in paragraph (2) are met.
(2) The conditions are—
(a)where all of the legal owners are within the benefit unit, each legal owner has executed a charge by way of legal mortgage in favour of the Department in respect of the relevant accommodation;
(b)the Department has obtained the written consent referred to in paragraph (3); and
(c)the information condition in regulation 6 (information condition) is met within the period of 6 months ending with the day on which the loan payments offer is accepted.
(3) The consent required by paragraph (2)(b) is consent given in writing to the creation of the mortgage by any person in the benefit unit in occupation of the relevant accommodation, who is not a legal owner.
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Explanatory Memorandum sets out a brief statement of the purpose of a Statutory Rule and provides information about its policy objective and policy implications. They aim to make the Statutory Rule accessible to readers who are not legally qualified and accompany any Northern Ireland Statutory Rule or Draft Northern Ireland Statutory Rule laid before the UK Parliament during the suspension of the Northern Ireland Assembly.
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Asesiadau Effaith
Impact Assessments generally accompany all UK Government interventions of a regulatory nature that affect the private sector, civil society organisations and public services. They apply regardless of whether the regulation originates from a domestic or international source and can accompany primary (Acts etc) and secondary legislation (SIs). An Impact Assessment allows those with an interest in the policy area to understand:
- Why the government is proposing to intervene;
- The main options the government is considering, and which one is preferred;
- How and to what extent new policies may impact on them; and,
- The estimated costs and benefits of proposed measures.
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