Housing Act 1985

447 Recognised lending institutions.

(1) The lending institutions recognised for the purposes of section 445 (assistance for first-time buyers) are—

• designated building societies,

• local authorities,

• new town corporations,

• the Development Board for Rural Wales,

• trustee savings banks

• banks,

• insurance companies, and

• friendly societies.

(2) The Secretary of State may by order made with the consent of the Treasury—

(a) add to the list in subsection (1), or

(b) direct that a named body shall no longer be a recognised lending institution;

but before making an order under paragraph (b) he shall give an opportunity for representations to be made on behalf of the body concerned.

(3) An order shall be made by statutory instrument.