Document ID: chunk:federal_register_of_legislation:C2004A03717:body:0:p88
Version: federal_register_of_legislation:C2004A03717
Segment Type: other
Provision Reference: 
Character Range: 225883–228756

"at 10 per centum per annum", substitute "at such rate as the Bank determines".
Section 48b          —
Section 48c         —

SCHEDULE 2—continued

Provision       Modification
Section 49      —
                Defence Service Homes Regulations
Regulation 9       (a) After "of the Act" insert "as that provision applies as a term or condition of a portfolio asset which vests in the Bank under section 6b of the Defence Service Homes Act 1918".
                   (b) After "is situated" insert "and which is otherwise in a form acceptable to the Bank".
Regulation 10    After "of the Act" insert "as that provision applies as a term or condition of a portfolio asset which vests in the Bank under section 6b of the Defence Service Homes Act 1918".
Regulation 13   —
Regulation 14   Omit "Subject to section 17b of the Act, each", substitute "Each".
Regulation 15       (a) Omit "by the Corporation", substitute "by a Manager of the Bank",
                   (b) After "Corporation shall" insert ", as between the Bank and the purchaser, borrower, tenant or applicant,".
Regulation 17      (a) Omit from paragraph (b) "in accordance with an agreement for the erection, completion or enlargement of a dwelling-house by the Corporation under section 17a of the Act,".
                   (b) Omit "the mortgage or by the Act or these Regulations", substitute "a term or condition of the mortgage".
Regulation 18      (a) After "of the Act" insert ", as that provision applies as a term or condition of a portfolio asset which vests in the Bank under section 6b of the Defence Service Homes Act 1918".
                   (b) Omit from subregulation (1) "with the Act", substitute "with that subsection".

SCHEDULE 2—continued

Provision       Modification
Regulation 20   After "of the Act" insert ", as that provision applies as a term or condition of a portfolio asset which vests in the Bank under section 6b of the Defence Service Homes Act 1918,".
Regulation 21   (a) Omit "it is proved to the satisfaction of the Corporation that",
                  (b) After "of the Act" insert ", as that provision applies as a term or condition of a portfolio asset which vests in the Bank under section 6b of the Defence Service Homes Act 1918,".
Regulation 23     (a) After "when an amount" insert ", other than a prepayment of principal,",
                  (b) Omit paragraphs (a), (b), (c), (d), (da), (e), (f) and (g), substitute the following paragraphs:
                    "(a) where there is only one loan tier and one interest rate applicable to the specified portfolio asset and the amount paid is equal to or less than the scheduled instalment, the whole of the amount will be credited to the subsidised advance loan account;
                    (b) where there is more than one loan tier and more than one interest rate applicable to the specified portfolio asset and