Statutory Instruments
2005 No. 2863
HOUSING, ENGLAND
The Social Landlords (Additional Purposes or Objects) (Amendment) (England) Order 2005
Made
12th October 2005
Laid before Parliament
14th October 2005
Coming into force
5th November 2005
The First Secretary of State, in exercise of the powers conferred by section 2(7) of the Housing Act 1996( 1 ), makes the following Order:
Citation, commencement and application
1. —(1) This Order may be cited as the Social Landlords (Additional Purposes or Objects) (Amendment) (England) Order 2005 and shall come into force on 5th November 2005.
(2) The Order applies in relation to bodies eligible for registration as social landlords by the Housing Corporation in England( 2 ).
Amendment of the Social Landlords (Permissible Additional Purposes or Objects) Order 1996
2. —(1)The Social Landlords (Permissible Additional Purposes or Objects) Order 1996( 3 ) is amended as follows.
(2) In article 2 (interpretation)—
(a) in paragraph (1) for the definition of “qualifying lending institution”, substitute—
“ “qualifying lending institution” means—
(a)
the Housing Corporation; or
(b)
a person who—
(i)
is an authorised person within the meaning given to that expression by section 31 of the Financial Services and Markets Act 2000 ( 4 ) , and
(ii)
has permission under that Act to enter into a regulated mortgage contract as lender;
“regulated mortgage contract” has the meaning given by article 61(3)(a) of the Financial Services and Markets Act 2000 (Regulated Activities) Order 2001 ( 5 ) ; ” ;
(b) in paragraph (2) delete sub-paragraphs (b) and (c).
(3) In article 3 (additional permissible purposes or objects), after paragraph (c), add—
“ (d) disposing of houses on leases—
(i) granted on a payment of premium calculated by reference to a percentage of the value of the house or the cost of providing it, or
(ii) under which the tenant (or his personal representatives) will or may be entitled to a sum calculated by reference directly or indirectly to the value of the house. ” .
Amendment of the Social Landlords (Additional Purposes or Objects) Order 1999
3. —(1)Article 3 (Priority of mortgages) of the Social Landlords (Additional Purposes or Objects) Order 1999( 6 ) is amended as follows.
(2) For the definition of “qualifying lending institution”, substitute—
“ “qualifying lending institution” means—
(a)
the Housing Corporation; or
(b)
a person who—
(i)
is an authorised person within the meaning given to that expression by section 31 of the Financial Services and Markets Act 2000, and
(ii)
has permission under that Act to enter into a regulated mortgage contract as lender;
“regulated mortgage contract” has the meaning given by article 61(3)(a) of the Financial Services and Markets Act 2000 (Regulated Activities) Order 2001. ” .
(3) In paragraph (4) delete sub-paragraphs (b) and (c).
Signed by authority of the First Secretary of State
Yvette Cooper
Minister of State
Office of the Deputy Prime Minister
12th October 2005
( 1 )
1996 c. 52 . The Secretary of State’s functions under section 2, so far as exercisable in relation to Wales, were transferred to the National Assembly for Wales by the National Assembly for Wales (Transfer of Functions) Order 1999 ( S.I. 1999/672 ), article 2 and Schedule 1.
( 2 )
See sections 1 and 56 of the Housing Act 1986, as amended by paragraphs 82, 83 and 94 of Schedule 16 to the Government of Wales Act 1998 (c. 38) .
( 3 )
S.I. 1996/2256 ; amended by S.I. 2001/3649 .
( 4 )
( 5 )
S.I. 2001/544 . Article 2 amended by S.I. 2002/1777 article 2(1)-(3) and article 61 is amended by S.I. 2001/3544 articles 2 and 8(a)-(c).
( 6 )
S.I. 1999/985 ; amended by S.I. 2001/3649 .