55 Cessation of conditions on repayment of grant, &c.E+W
(1)If at any time while a grant condition remains in force with respect to a dwelling, F1. . . or building—
(a)the owner of the dwelling, F1. . . or building to which the condition relates pays the amount of the grant to the local housing authority by whom the grant was made,
(b)a mortgagee of the interest of the owner in that dwelling, F1. . . or building being a mortgagee entitled to exercise a power of sale, makes such a payment,
(c)the local housing authority determine not to demand repayment on the breach of a grant condition, or
(d)the authority demand repayment in whole or in part on the breach of a grant condition and that demand is satisfied,
that grant condition and any other grant conditions shall cease to be in force with respect to that dwelling, F1. . . or building.
F2(2). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
(3)An amount paid by a mortgagee under subsection (1)(b) above shall be treated as part of the sums secured by the mortgage and may be discharged accordingly.
(4)The purposes authorised for the application of capital money by—
(a)section 73 of the M1Settled Land Act 1925,
F3(b). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
(c)section 26 of the M2Universities and College Estates Act 1925,
include the making of payments under this section.
Textual Amendments
F1Words in s. 55(1) repealed (19.7.2003) by The Regulatory Reform (Housing Assistance) (England and Wales) Order 2002 (S.I. 2002/1860), arts. 1(3), 11(1), 15, Sch. 3 para. 23(a), Sch. 6 (with art. 11(2))
F2S. 55(2) repealed (19.7.2003) by The Regulatory Reform (Housing Assistance) (England and Wales) Order 2002 (S.I. 2002/1860), arts. 1(3), 11(1), 15, Sch. 3 para. 23(b), Sch. 6 (with art. 11(2))
F3S. 55(4)(b) repealed (1.1.1997) by 1996 c. 47, s. 25(2), Sch. 4 (with ss. 24(2), 25(4)(5)); S.I. 1996/2974, art. 2
Marginal Citations