The London Government Reorganisation (Housing Association Mortgages) (No. 2) Order 1987

• Citation: S.I. 1987/2219
• Sections: 5

Section 1 Citation, commencement and interpretation

(1) This Order may be cited as the London Government Reorganisation (Housing Association Mortgages) (No. 2) Order 1987, and shall come into force on 29th January 1988.

(2) In this Order—

“the relevant council”, in relation to—

any mortgaged land, or

any building or dwelling provided or converted in pursuance of arrangements entered into under any enactment mentioned in article 3(2),

means the council of the district or London borough in which the land, or as the case may be, any such building or dwelling, is situated;

“the transfer date”—

is 29th January 1988 in relation to any mortgage of land situated in the London boroughs mentioned in Part I of the Schedule to this Order;

is 29th February 1988 in relation to any mortgage of land situated in the London boroughs mentioned in Part II, and

is 30th March 1988 in relation to any mortgage of land situated in any district, or any London borough mentioned in Part III;

and any reference to the Greater London Council includes a reference to any predecessor in title of that Council.

Section 2 Transfer of housing association mortgages

(1) This article applies to any mortgage granted by a housing association to secure a loan by the Greater London Council.

(2) Subject to articles 3 and 4, all rights and liabilities of the London Residuary Body in respect of any mortgage to which this article applies shall on the transfer date vest in the relevant council on the terms mentioned in paragraph (3).

(3) In relation to any mortgage to which this article applies, the relevant council shall pay to the London Residuary Body a sum equal to the aggregate of all amounts outstanding by way of principal and interest in respect of advances made to the association by the Greater London Council.

Section 3 Exchequer contributions

(1) All rights and liabilities of the London Residuary Body arising in connection with the duty of the Secretary of State under any enactment mentioned in paragraph (2) to pay contributions or subsidies towards arrangements between the Greater London Council and any housing association for the provision or conversion of any building or dwelling shall on 1st April 1988 vest in the relevant council.

(2) The enactments referred to in paragraph (1) are—

sections 12 and 15 of the Housing (Financial Provisions) Act 1958 ;

section 12 of the Housing Subsidies Act 1967 , and

section 21 of the Housing Act 1969 .

Section 4 Land situated in more than one area

Where in respect of any mortgage to which article 2 applies the mortgaged land is situated in the area of more than one relevant council the rights and liabilities in respect of the mortgage shall vest in those councils jointly on such terms as may be agreed between those councils or, failing such agreement, determined by a person so agreed on, or appointed in default of agreement by the Secretary of State; and the sum payable by virtue of article 2(3) shall be recoverable by the London Residuary Body from those councils jointly or severally.

Section 5 Records

(1) Subject to paragraph (2), all records of the London Residuary Body relating exclusively to any rights or liabilities transferred by this Order shall vest on the date of that transfer in the council to which those rights and liabilities are transferred.

(2) All such records as are referred to in paragraph (1) and relate to rights and liabilities which by virtue of article 4 vest in more than one council shall vest in those councils jointly.