Housing, Town Planning, &c. Act 1919
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Change 1
49 Amendment of 62 & 63 Vict. c.44
The following amendments shall be made in the Small Dwellings Acquisition Act, 1899:— (a) In subsection (1) of section one " eight hundred pounds" shall be substituted for " four hundred pounds " as the limit on the market value of houses in respect of which advances may be made : (b) In paragraph (a) subsection (1) of section one " eighty-five per cent." shall be substituted for " four-fifths " with respect to the limitation on the amount which may be advanced: (c) Paragraph (b) of subsection (1) of section one shall be repealed : (d) A receipt under seal in the form set out in Part I. of the Fourth Schedule to this Act (with such variations and additions (if any) as may be thought expedient) endorsed on, or written at the foot of, or annexed to, a mortgage for money advanced under the Act which states the name of the person who pays the money and is executed by a local authority shall, without any re-conveyance, re-assignment or release, operate as a discharge of the mortgaged property from all principal money and interest secured by, and from all claims under the mortgage, and shall have such further operation as is specified in Part II of that schedule: Provided that— (a) nothing in this provision shall affect the right of any person to require the re-conveyance, re-assignment, surrender, release, or transfer to be executed in lieu of a receipt; and (b) the receipt shall not be liable to stamp duty and shall be granted free of cost to the person who pays the money.
49 Amendment of 62 & 63 Vict. c.44
The following amendments shall be made in the Small Dwellings Acquisition Act, 1899:— (a) In subsection (1) of section one " eight hundred pounds" shall be substituted for " four hundred pounds " as the limit on the market value of houses in respect of which advances may be made : (b) In paragraph (a) subsection (1) of section one " eighty-five per cent." shall be substituted for " four-fifths " with respect to the limitation on the amount which may be advanced: (c) Paragraph (b) of subsection (1) of section one shall be repealed : (d) A receipt under seal in the form set out in Part I. of the Fourth Schedule to this Act (with such variations and additions (if any) as may be thought expedient) endorsed on, or written at the foot of, or annexed to, a mortgage for money advanced under the Act which states the name of the person who pays the money and is executed by a local authority shall, without any re-conveyance, re-assignment or release, operate as a discharge of the mortgaged property from all principal money and interest secured by, and from all claims under the mortgage, and shall have such further operation as is specified in Part II of that schedule: Provided that— (a) nothing in this provision shall affect the right of any person to require the re-conveyance, re-assignment, surrender, release, or transfer to be executed in lieu of a receipt; and (b) the receipt shall not be liable to stamp duty and shall be granted free of cost to the person who pays the money.
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