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The Mortgage Indemnities (Recognised Bodies)Order 1990

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Statutory Instruments

1990 No. 1389

HOUSING, ENGLAND AND WALES

The Mortgage Indemnities (Recognised Bodies)Order 1990

Made

5th July 1990

Coming into force

27th July 1990

The Secretary of State, in exercise of the powers conferred on him by section 444(1) of the Housing Act 1985(1) and of all other powers enabling him in that behalf, and with the consent of the Treasury, hereby makes the following Order:

1.  This Order may be cited as the Mortgage Indemnities (Recognised Bodies) Order 1990 and shall come into force on 27th July 1990.

2.  The following bodies are hereby specified as recognised bodies for the purposes of sections 442 and 443 of the Housing Act 1985:

(a)Sun Life of Canada Home Loans Limited

(b)Halifax Loans (No. 2) Limited

(c)Halifax Loans (No. 3) Limited

(d)Halifax Loans (No. 4) Limited.

Chris Patten

One of Her Majesty’s Principal Secretaries of State

27th June 1990

We consent,

John Taylor

David Lightbown

Two of the Lords Commissioners of Her Majesty’s Treasury

5th July 1990

Explanatory Note

(This note is not part of the Order)

This Order specifies four additional bodies as recognised bodies for the purposes of sections 442 and 443 of the Housing Act 1985. (Other bodies have been specified in previous Orders.)

Section 442 provides for a local authority, with the approval of the Secretary of State, to enter into agreements with a recognised body to indemnify such a body against any loss or expense arising from an advance made by it on the security of a house or flat bought from one of the landlords listed in section 444(4) of the Act. Section 443 provides for a local authority to contribute towards costs incurred in connection with a legal charge to secure such an advance.

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