C1Part III The Housing Corporation
Corporation’s powers with respect to grants and loans
85 Meaning of “recognised body” and “relevant advance”.
1
The expressions “recognised body” and “relevant advance” in section 84 (agreements to indemnify certain lenders) shall be construed in accordance with the following provisions.
2
A “recognised body” means a body specified, or of a class or description specified, in an order made by statutory instrument by the Secretary of State F1. . ..
3
Before making such an order varying or revoking an order previously made, the Secretary of State shall give an opportunity for representations to be made on behalf of a recognised body which, if the order were made, would cease to be such a body.
C2C34
A “relevant advance” means an advance made to a person whose interest in the dwelling is or was acquired by virtue of a conveyance of the freehold or an assignment of a long lease, or a grant of a long lease by—
a local authority,
a new town corporation,
an urban development corporation,
the Development Board for Rural Wales,
the Corporation, or
a F2registered social landlord.
5
In subsection (4) “long lease” has the same meaning as in Part V of the M1Housing Act 1985 (the right to buy).
Pt. III (ss. 74-102) excluded (E.W.) (1.10.1996) by 1996 c. 52, s. 7, Sch. 1 para. 15(6); S.I. 1996/2402, art. 3 (subject to transitional provisions and savings in Sch.)