Statutory Instruments

1988 No. 323

LONDON GOVERNMENT

The London Government Reorganisation (Non-Domestic Mortgages) Order 1988

Made

25th February 1988

Laid before Parliament

4th March 1988

Coming into force

31st March 1988

Whereas the London Residuary Body, acting pursuant to section 67 (1)(a) and (2) of the Local Government Act 1985(1) ("the Act") has submitted proposals to the Secretary of State for the transfer of certain property, rights and liabilities to the councils of London boroughs:

And whereas the Secretary of State has decided to give effect to those proposals with modifications:

Now, therefore, the Secretary of State, in exercise of the powers conferred on him by sections 67(3) and 100(2) and (4) of the Act, and of all other powers enabling him in that behalf, hereby makes the following Order:-

Citation, commencement and interpretation

1.-(1) This Order may be cited as the London Government Reorganisation (Non-Domestic Mortgages) Order 1988, and shall come into force on 31st March 1988.

(2) In this Order-

"transferee council" in relation to any mortgage, means the council of any London borough mentioned in relation to the mortgaged property in column 3 of the Schedule, and

"the Coin street mortgage" means the mortgage mentioned in article 2(3).

Transfer of non-domestic mortgages

2.-(1) This article applies to any mortgage granted to the London Residuary Body or any predecessor in title of that Body by a person or body mentioned in column 1 of the Schedule and secured on land situated as described in column 2.

(2) All rights and liabilities of the London Residuary Body in respect of any mortgage to which this article applies, and all records of that body relating exclusively to any such rights or liabilities, shall vest in the transferee council, or, as the case may be, councils.

(3) The rights, liabilities and records in respect of the mortgage of land at Upper Ground and at Barge House Street, SE1, transferred by paragraph (2) above shall vest in the transferee councils jointly on such terms as may be agreed between them or, failing such agreement, determined by a person so agreed on or appointed in default of agreement by the Secretary of State.

(4) The transferee council, or, as the case may be, councils shall pay to the London Residuary Board a sum equal to the aggregate of all amounts outstanding by way of principal and interest in respect of any mortgage to which this article applies; and the sum in respect of the Coin street mortgage may be recovered from the transferee councils jointly or severally.

(5) Money received by the London Residuary Body in pursuance of this article shall not be treated, for the purposes of section 77 of the Act and of the Local Government Reorganisation (Capital Money) (Greater London) Order 1987(2), as capital money within the meaning of article 2(2) of that Order.

Nicholas Ridley

Secretary of State for the Environment

10th February 1988

Articles 1(2) and 2(1)

SCHEDULE

(1)	(2)	(3)
Mortgagor	Situation of land	London borough
Bermondsey and Brook Lane Medical Mission	5 Oaklands Road, Bromley	Bromley
London Enterprise Property Co Ltd.	South side of Chalk Farm Road and Primrose Hill, NW1	Camden
Universal Tyre Co. (Deptford) Ltd.	Land in Creek Road, SE8	Greenwich
Mark Street Depository Ltd	68a Leonard Street, EC2	Hackney
Mark Street Depository Ltd	Former St Michael's Church and former parsonage house, Mark Street, EC2
Lubavitch Foundation	113 and 115 Stamford Hill, N16	Hackney
GLEB Investments Ltd.	167-185 Freston Rd, W10	Hammersmith and Fulham
GLEB Investments Ltd.	Worton Hall, Worton Rd, Isleworth	Hounslow
W & W Engineers (Hayes) Ltd.	South west of Rigby Lane, Hayes	Hillingdon
GLEB Investments Ltd	2-6 (even) All Saints Street, Thornhill Wharf; 8-36 (even) All Saints Street, Pembroke Wharf; rear of 8-36 (even) All Saints Street; and 123 Caledonian Road, N.1.	Islington
Kings Cross Community Property Trust	61-71 (odd) Collier Street, N1
Harpgrace Ltd.	The Annexe, 40 Bowling Green Lane, EC1	Islington
Mangrove Enterprises Ltd.	6 and 8 All Saints Road, W11	Kensington and Chelsea
Delves House Trust Ltd.	25-33 (odd) Queen's Gate Terrace and 10 and 12 Petersham Place, SW7	Kensington and Chelsea
GLEB Investments Ltd.	Milkwood Road (west side), SE24	Lambeth
Farmwood Investments Ltd	339 Kennington Lane and 1-35 (odd) Durham Street, SE11	Lambeth
Lambeth Old People's Housing Society Ltd	18-19 Victoria Rise, SW4	Lambeth
School Journey Association	48-50 Cavendish Road, SW12	Lambeth
Trustees of the Society of St. Vincent de Paul	14 Rutford Road SW16	Lambeth
Coin Street Community Builders Ltd.	Site F2 Barge House Street and Site A Upper Ground, SE1	Lambeth and Southwark
Hostel for Crippled and Invalid Women Workers (Incorporated)	10, Love Walk, SE5	Southwark
South East London Baptist Homes Ltd.	The Elms, 147 Barry Road, SE22	Southwark
GLEB Investments Ltd.	23-55 (odd) Bacon Street; 2-14 (even) Busby Street; 28-40 (even) Chilton Street; 1-27 (odd) Granby Street; 2-8 (even) Granby Street, E2.	Tower Hamlets
London Production Centre Ltd.	Broomhill Road, SW18
Fulham Housing Improvement Society	Wickenham House, Kersfield Road; Royston House, 55 Putney Hill, SW15	Wandsworth
Dr. I Dollond	208 and 210 Roehampton Lane, SW15	Wandsworth

Explanatory Note

(This note is not part of the Order)

Article 2 of this Order transfers to the councils of London boroughs the property, rights and liabilities of the London Residuary Body arising in respect of the mortgages of the property specified in the Schedule to the Order, which is mainly of an industrial or commercial character. It also makes provision for payments to that Body by such councils in respect of such transfers, and provides that such payments are not to be treated as capital money for the purposes of section 77 of the Local Government Act 1985 and the Local Government Reorganisation (Capital Money) (Greater London) Order 1987.

(1)

1985 c. 51.

(2)

S.I. 1987/118.