- Statutory Instrument 2006 No. 2563
The Housing (Right to Buy)(Priority of Charges) (England)(No.2) Order 2006
© Crown Copyright 2006
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| Made | 19th September 2006 | ||
| Coming into force | 10th October 2006 |
The Secretary of State, in exercise of the powers conferred by section 156(4) of the Housing Act 1985[1], makes the following Order:
Citation, commencement and application
1. —(1) This Order may be cited as the Housing (Right to Buy)(Priority of Charges)(England)(No.2) Order 2006 and shall come into force on 10th October 2006.
(2) This Order applies in England only.
Specified bodies
2. Morgan Stanley Bank International Limited (Company No. 3722571) is specified as an approved lending institution for the purposes of section 156 of the Housing Act 1985[2].
Signed by authority of the Secretary of State for Communities and Local Government
Yvette Cooper
Minister of State Department for Communities and Local Government
19th September 2006
(This note is not part of the Order)
This Order specifies Morgan Stanley Bank International Limited ("Morgan Stanley") as an approved lending institution for the purposes of section 156 of the Housing Act 1985 (which specifies that liability to repay the covenant required by section 155 under the right to buy is a charge on the premises, and deals with priority of charges on disposals). Other bodies have been specified by previous orders. In being specified for the purposes of that section Morgan Stanley also becomes an approved lending institution for the purposes of section 36 of the Housing Act 1985 (priority of charges on voluntary disposals by local authorities) and section 12 of the Housing Act 1996 (priority of charges on voluntary disposals by registered social landlords).
Section 156 of the Housing Act 1985 is applied by section 171A of that Act (inserted by section 8 of the Housing and Planning Act 1986) to cases in which a tenant's right to buy is preserved, and by section 17 of the Housing Act 1996 to cases in which a tenant has the right to acquire under section 16 of that Act. Morgan Stanley is therefore also an approved lending institution for the purposes of those rights.
Notes:
[1] 1985 (c.68). Section 156(4) was amended by paragraph 22(1)(c) of Schedule 18, and Part 13 of Schedule 19, to the Housing Act 1996 (c.52), section 140 of, and paragraph 5 of Schedule 16 to, the Government of Wales Act 1998 (c.38), and by SI 2001/3649. The Secretary of State's functions under section 156, 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.back
[2] Section 156 was also amended by section 24(1) of, and paragraph 1(2) and (5) of Schedule 5 to, the Housing and Planning Act 1986 (c.63), by section 120(3) and (4) of the Leasehold Reform, Housing and Urban Development Act 1993 (c.28), and by section 135 of, and Schedule 13 to, the Land Registration Act 2002 (c.9).back
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