Housing (Scotland) Act 1987 (c. 26)

PART XII S HOUSE LOANS AND OTHER FINANCIAL ASSISTANCE

Assistance for first-time buyers S

225 Recognised savings institutions. S

(1) The savings institutions recognised for the purposes of section 223 (qualifying conditions as to savings) are—

• building societies,

• local authorities,

• banks,

• friendly societies,

• the Director of Savings, and

• the Post Office,

and savings institutions recognised for the purposes of the corresponding provisions in force in England or Wales or Northern Ireland.

In this section and in section 227 those corresponding provisions are—

(a) in relation to England and Wales, sections 445 to 449 of the M1 Housing Act 1985;

(b) in relation to Northern Ireland, Part IX of the M2 Housing (Northern Ireland) Order 1981.

(2) The Secretary of State may by order made with the consent of the Treasury—

(a) add to the list in subsection (1), or

(b) direct that a named body shall no longer be a recognised savings institution,

but before making an order under paragraph (b) he shall give an opportunity for representations to be made on behalf of the body concerned.

(3) An order shall be made by statutory instrument.

Modifications etc. (not altering text)

C1 Ss. 222–227: power to amend or repeal conferred by Local Government and Housing Act 1989 (c. 42, SIF 61), s. 171(b)(2)

Marginal Citations

M1 1985 c. 68.

M2 S.I.1981/156 (N.I.3).