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Change 1
As published
85 Meaning of “recognised body” and “relevant advance”.
(1) The expressions “recognised body” and “relevant advance” in section 84 (agreements to indemnify certain lenders) shall be construed in accordance with the following provisions.
(2) A “recognised body” means a body specified, or of a class or description specified, in an order made by statutory instrument by the Welsh Ministers . . ..
(3) Before making such an order varying or revoking an order previously made, the Welsh Ministers shall give an opportunity for representations to be made on behalf of a recognised body which, if the order were made, would cease to be such a body.
(4) A “relevant advance” means an advance made to a person whose interest in the dwelling is or was acquired by virtue of a conveyance of the freehold or an assignment of a long lease, or a grant of a long lease by—
a local authority,
a new town corporation,
the Welsh Ministers so far as they are or were exercising functions in relation to property transferred (or to be transferred) to them as mentioned in section 36(1)(a)(i) to (iii) of the New Towns Act 1981,
an urban development corporation,
. . .
..., or
a registered social landlord. or an advance made to such a person by the Welsh Ministers if the conveyance, assignment or grant was made under section 90.
(5) In subsection (4) “long lease” has the same meaning as in Part V of the Housing Act 1985 (the right to buy).
Your change, as a redline
85 Meaning of “recognised body” and “relevant advance”.
(1) The expressions “recognised body” and “relevant advance” in section 84 (agreements to indemnify certain lenders) shall be construed in accordance with the following provisions.
(2) A “recognised body” means a body specified, or of a class or description specified, in an order made by statutory instrument by the Welsh Ministers . . ..
(3) Before making such an order varying or revoking an order previously made, the Welsh Ministers shall give an opportunity for representations to be made on behalf of a recognised body which, if the order were made, would cease to be such a body.
(4) A “relevant advance” means an advance made to a person whose interest in the dwelling is or was acquired by virtue of a conveyance of the freehold or an assignment of a long lease, or a grant of a long lease by—
a local authority,
a new town corporation,
the Welsh Ministers so far as they are or were exercising functions in relation to property transferred (or to be transferred) to them as mentioned in section 36(1)(a)(i) to (iii) of the New Towns Act 1981,
an urban development corporation,
. . .
..., or
a registered social landlord. or an advance made to such a person by the Welsh Ministers if the conveyance, assignment or grant was made under section 90.
(5) In subsection (4) “long lease” has the same meaning as in Part V of the Housing Act 1985 (the right to buy).
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