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Column 949
Taylor, Ian (Esher)Taylor, John M. (Solihull)
Taylor, Sir Teddy (Southend, E)
Temple-Morris, Peter
Thompson, Patrick (Norwich N)
Thurnham, Peter
Townend, John (Bridlington)
Townsend, Cyril D. (Bexl'yh'th)
Trend, Michael
Twinn, Dr Ian
Viggers, Peter
Waldegrave, Rt Hon William
Walden, George
Waller, Gary
Ward, John
Wardle, Charles (Bexhill)
Waterson, Nigel
Wells, Bowen
Wheeler, Rt Hon Sir John
Whittingdale, John
Widdecombe, Ann
Willetts, David
Winterton, Mrs Ann (Congleton)
Wood, Timothy
Yeo, Tim
Young, Sir George (Acton)
Tellers for the Noes :
Mr. Andrew MacKay and
Mr. Sydney Chapman.
Question accordingly negatived.
Clause 92
Landlord's notice of purchase priceand other matters
Amendment made : No. 80, in page 94, line 25, leave out multiplier' and insert relevant amount and multipliers'.
Clause 95
Right to acquire on rent to mortgage terms
Amendments made : No. 81, in page 97, leave out lines 5 to 15. No. 82, in page 97, leave out lines 19 to 26 and insert
(3A) Where, in the case of a dwelling-house which is a house, the weekly rent at the relevant time did not exceed the relevant amount, the minimum initial payment shall be determined by the formula-- P=R M
where--
P=the minimum initial payment ;
R=the amount of the weekly rent at the relevant time ;
M=the multiplier which at that time was for the time being declared by the Secretary of State for the purposes of this subsection. (3B) Where, in the case of a dwelling-house which is a house, the weekly rent at the relevant time exceeded the relevant amount, the minimum initial payment shall be determined by the formula-- P=Q (E M)
where--
P=the minimum initial payment ;
Q=the qualifying maximum for the year of assessment which included the relevant time ;
E=the amount by which the weekly rent at that time exceeded the relevant amount ;
M=the multiplier which at that time was for the time being declared by the Secretary of State for the purposes of this subsection. (3C) The minimum initial payment in respect of a dwelling-house which is a flat is 80 per cent. of the amount which would be the minimum initial payment in respect of the dwelling-house if it were a house.
(4) The relevant amount and multipliers for the time being declared for the purposes of this section shall be such that, in the case of a dwelling- house which is a house, they will produce a minimum initial payment equal to the capital sum which, in the opinion of the Secretary of State, could be raised on a 25 year repayment mortgage in the case of which the net amount of the monthly mortgage payments was equal to the rent at the relevant time calculated on a monthly basis.".
No. 83, in page 97, line 37, after section' insert--
" net amount', in relation to monthly mortgage payments, means the amount of such payments after deduction of tax under section 369 of the Income and Corporation Taxes Act 1988 (mortgage interest payable under deduction of tax) ;
qualifying maximum' means the qualifying maximum
Column 950
defined in section 367(5) of that Act (limit on relief for interest on certain loans) ;relevant amount' means the amount which at the relevant time was for the time being declared by the Secretary of State for the purposes of this section ;
relevant time' means the time of the service of the landlord's notice under section 146 (landlord's notice admitting or denying right) ;".
Clause 97
Landlord's notice admitting or denying right
Amendment made : No. 84, in page 98, line 24, leave out mulitiplier' and insert relevant amount and multipliers'.-- [Mr. Baldry.]
Clause 105
Mortgage for securing redemptionof landlord's share
Amendment made : No. 85, in page 103, line 13, leave out to (5)' and insert and (4)'.
No. 86, in page 103, line 18, leave out from beginning to end of line 7 on page 104 and insert--
(3) The following, namely--
(a) any advance which is made otherwise than for the purpose mentioned in subsection (2) and is secured by a legal charge having priority to the mortgage, and
(b) any further advance which is so secured,
shall rank in priority to the mortgage if, and only if, the landlord by written notice served on the institution concerned gives its consent ; and the landlord shall so give its consent if the purpose of the advance or further advance is an approved purpose. (4) The landlord may at any time by written notice served on an approved lending institution postpone the mortgage to any advance or further advance which--
(a) is made to the tenant by that institution, and
(b) is secured by a legal charge not having priority to the mortgage :
and the landlord shall serve such a notice if the purpose of the advance or further advance is an approved purpose.'
No. 87, in page 104, line 17, at end insert--
(6A) The approved purposes for the purposes of this section are-- (
(a) to enable the tenant to make an interim or final payment, (
(b) to enable the tenant to defray, or to defray on his behalf, any of the following--
(i) the cost of any works to the dwelling-house,
(ii) any service charge payable in respect of the dwelling-house for works, whether or not to the dwelling-house, and
(iii) any service charge or other amount payable in respect of the dwelling -house for insurance, whether or not of the dwelling-house, and
(c) to enable the tenant to discharge, or to discharge on his behalf, any of the following--
(i) so much as is still outstanding of any advance or further advance which ranks in priority to the mortgage,
(ii) any arrears of interest on such an advance or further advance, and
(iii) any costs and expenses incurred in enforcing payment of any such interest, or repayment (in whole or in part) of any such advance or further advance.
(6B) Where different parts of an advance or further advance are made for different purposes, each of those parts shall be regarded as a separate advance or further advance for the purposes of this section.'
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Clause 107
Repayment of discount on early disposal
Amendments made : No. 88, in page 105, line 31 [Clause 107], leave out to (2C)' and insert and (2B)'.
No. 89, in page 106, leave out lines 1 to 37 and insert
(2A) The following, namely--
(a) any advance which is made otherwise than for the purpose mentioned in paragraph (a) or (b) of subsection (2) and is secured by a legal charge having priority to the charge taking effect by virtue of this section, and
(b) any further advance which is so secured, shall rank in priority to that charge if, and only if, the landlord by written notice served on the institution concerned gives its consent ; and the landlord shall so give its consent if the purpose of the advance or further advance is an approved purpose.
(2B) The landlord may at any time by written notice served on an approved lending institution postpone the charge taking effect by virtue of this section to any advance or further advance which-- (
(a) is made to the tenant by that institution, and
(b) is secured by a legal charge not having priority to that charge ;
and the landlord shall serve such a notice if the purpose of the advance or further advance is an approved purpose."
(4) After subsection (4) of that section there shall be inserted the following subsections--
"(4A) The approved purposes for the purposes of this section are-- (
(a) to enable the tenant to make an interim or final payment, (
(b) to enable the tenant to defray, or to defray on his behalf, any of the following--
(i) the cost of any works to the dwelling-house,
(ii) any service charge payable in respect of the dwelling-house for works, whether or not to the dwelling-house, and
(iii) any service charge or other amount payable in respect of the dwelling -house for insurance, whether or not of the dwelling house, and
(c) to enable the tenant to discharge, or to discharge on his behalf, any of the following--
(i) so much as is still outstanding of any advance or further advance which ranks in priority to the charge taking effect by virtue of this section,
(ii) any arrears of interest on such an advance or further advance, and
(iii) any costs and expenses incurred in enforcing payment of any such interest, or repayment (in whole or in part) of any such advance or further advance.
(4B) Where different parts of an advance or further advance are made for different purposes, each of those parts shall be regarded as a separate advance or further advance for the purposes of this section.".'
Clause 118
Voluntary disposals by local authorities
Amendments made : No. 91, in page 118, line 29 [Clause 118], leave out to (2C)' and insert and (2B)'.
No. 92, in page 118, line 35, leave out from beginning to end of line 22 on page 119 and insert--
"(2A) The following, namely--
(a) any advance which is made otherwise than for the purpose mentioned in subsection (2)(b) and is secured by a legal charge having priority to the charge taking effect by virtue of this section, and
(b) any further advance which is so secured,
shall rank in priority to that charge if, and only if, the local authority by written notice served on the institution concerned gives their consent ; and the local authority shall so give their consent if the purpose of the advance or further advance is an approved purpose.
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(2B) The local authority may at any time by written notice served on an approved lending institution postpone the charge taking effect by virtue of this section to any advance or further advance which-- ((a) is made to the purchaser by that institution, and
(b) is secured by a legal charge not having priority to that charge ;
and the local authority shall serve such a notice if the purpose of the advance or further advance is an approved purpose."
(2) After subsection (4) of that section there shall be inserted the following subsections--
"(5) The approved purposes for the purposes of this section are-- (
(a) to enable the purchaser to defray, or to defray on his behalf, any of the following--
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