The Income Tax (Interest Relief) (Qualifying Lenders) Order 1991

• Citation: S.I. 1991/618
• Sections: 6

Section 1

This Order may be cited as the Income Tax (Interest Relief) (Qualifying Lenders) Order 1991.

Section 2

The bodies named in article 3 below are prescribed for the purposes of section 376 of the Income and Corporation Taxes Act 1988 and shall become qualifying lenders with effect from the dates and in respect of the loans specified in the following paragraphs–

(a) with effect from the thirtieth day after the making of this Order, in relation to new loans (that is loans which are made on or after that day);

(b) with effect from the making of this Order, in relation to transferred loans (that is loans transferred from another qualifying lender on or after the making of this Order the interest on which is at the time of transfer relevant loan interest payable by a qualifying borrower);

(c) with effect from the 6th April 1991, in relation to other loans made by the body concerned before the thirtieth day after the making of this Order.

Section 3

The following are the bodies referred to in article 2 above–

Cavenbell Limited CIS Home Loans Limited

CIS Mortgage Finance Limited

CIS Residential Mortgages Limited

Confederation Bank Limited

Elmwood Finance Limited

Independent Mortgages Corporation PLC

Julian Hodge Bank Limited

Kingsmead Parks Limited

London and Manchester (Mortgages) ( No. 5) Limited

London and Manchester (Mortgages) (No. 6) Limited

NHL Fourteenth Funding Limited

NHL Fifteenth Funding Limited

NHL Sixteenth Funding Limited

Norwich Union Mortgage Finance Limited

TMC Mortgage Securities No. 23 PLC

TMC Mortgage Securities No. 24 PLC

Section 4

Article 3 of the Income Tax (Interest Relief) (Qualifying Lenders) (No. 3) Order 1986 shall be amended by omitting the words–

“Searchturn Limited”.

Section 5

Article 3 of the Income Tax (Interest Relief) (Qualifying Lenders) Order 1987 shall be amended by omitting the words–

“Trushelfco (No. 1027) Limited”.

Section 6

Article 3 of the Income Tax (Interest Relief) (Qualifying Lenders)(No. 2) Order 1989 shall be amended by omitting the words–

“North West Investment Company Limited”.