Jersey R & O 5739

Building Loans (Jersey) Law, 1950.

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BUILDING LOANS (MISCELLANEOUS PROVISIONS) (AMENDMENT No. 6) (JERSEY) REGULATIONS, 1972.

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(Promulgated on the 15th day of November, 1972).

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STATES OF JERSEY.

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The 7th day of November, 1972.

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THE STATES, in pursuance of Articles 5, 7 and 15 of the Building Loans (Jersey) Law, 1950,1 as amended,2 have made the following Regulations:  -

1.             In sub-paragraph (a) of Regulation 5A of the Building Loans (Miscellaneous Provisions) (Jersey) Regulations, 1961,3 as amended,4 (hereinafter referred to as “the principal Regulations”) for the words “seven thousand pounds” there shall be substituted the words “eight thousand pounds”.

2.             In Regulation 7 of the principal Regulations –

(a)     before the words “If the Committee” there shall be inserted the figure “(1)”;

(b)     for the words “one thousand two hundred pounds” there shall be substituted the words “one thousand five hundred pounds”; and

(c)     after paragraph (1) there shall be inserted the following paragraph –

“(2)            If the Committee is satisfied that the income for income tax purposes of a person, or in the case of a husband and wife, both persons to whom a loan is made which arose in the year immediately preceding the grant of the loan is more than one thousand five hundred pounds but not more than one thousand eight hundred pounds one half of the costs incurred in connexion with the passing of the contract of creation of a simple conventional hypothec to secure the loan shall be paid out of the Fund.”

3.             In sub-paragraph (b) of paragraph (1) of Regulation 8 of the principal Regulations for the words “seven thousand pounds” and “eight thousand pounds” there shall be substituted the words “eight thousand pounds” and “nine thousand pounds” respectively.

4.             These Regulations may be cited as the Building Loans (Miscellaneous Provisions) (Amendment No. 6) (Jersey) Regulations, 1972, and shall come into force on the Monday following the date of promulgation.

E.J.M. POTTER,

Greffier of the States.