S.I. No. 913/2005 - Housing Regulations 1980 (Amendment) Regulations 2005

S. I. No. 913 of 2005

HOUSING REGULATIONS 1980 (AMENDMENT) REGULATIONS 2005

The Minister for the Environment, Heritage and Local Government in exercise of the powers conferred on him by section 5 of the Housing Act 1966 (No. 21 of 1966), as amended by section 24 of the Housing (Miscellaneous Provisions) Act 1992 (No 18 of 1992) and section 11 of the Housing (Miscellaneous Provisions) Act 1992 , with the consent of the Minister for Finance, hereby make the following Regulations:

1.       These Regulations may be cited as the Housing Regulations 1980 (Amendment) Regulations 2005.

2.       In these Regulations -

“Housing Finance Agency” has the meaning given to it in the Housing Finance Agency Act 1981 (No 37 of 1981);

“Regulations of 1980” means the Housing Regulations 1980 ( S.I. No. 296 of 1980 );

“Regulations of 1982” means the Housing Regulations 1980 (Amendment) Regulations 1982 ( S.I. No. 177 of 1982 );

“Regulations of 1986” means the Housing Regulations 1980 (Amendment) Regulations 1986 ( S.I. No. 386 of 1986 )

“Regulations of 1996” means the Housing Regulations 1980 (Amendment) Regulations 1996 ( S.I. No. 148 of 1996 );

“Regulations of 2001” means the Housing Regulations 1980 (Amendment) Regulations 2001 ( S.I. No. 608 of 2001 ).

3.       Article 31 of the Regulations of 1980 (as substituted by the Regulations of 1982 and amended by the Regulations of 2001 is amended by:

(1)      substituting “2002 and before the 13^th day of July 2004.” for “2002.” in Column 2 of the Table to the article at Reference Number 12 and

(2)      the addition to the Table to the article of the following:

“

”

4.       Article 32A of the Regulations of 1980 (as inserted by the Regulations of 1996 and amended by the Regulations of 2001 is amended by:

(1)      substituting “2000; or” for “2000.” in paragraph (d) of sub-article (1) and

(2)      inserting the following after paragraph (d) in sub-article (1):

“

(e)      €92,000 in any case where the foundations of the house being constructed were completed or the contract for the acquisition of the house was made, on or after the 13 day of July 2004 and before the 1 day of January 2006; or

(f)       €100,000 in any case where the foundations of the house being constructed were completed or the contract for the acquisition of the house was made, on or after the 1 day of January 2006.”

5.   The Regulations of 1980 are amended by substituting for article 39 (as inserted by article 6 of the Regulations of 1986) the following:

“39. The rate of interest on a loan shall be such rate as may be fixed by the housing authority making the loan provided that the rate shall not be less than the rate at which money from the Housing Finance Agency is lent to housing authorities at that time for the purpose of making such loans and shall not exceed 2.35 per cent more than such rate in the case of loans made before 1 July 1986 or 1.298 per cent more than such rate in the case of loans made on or after 1 July 1986.”

The Minister for Finance consents to the foregoing Regulations.

Explanatory Note

(This note is not part of the Instrument and does not purport to be a legal interpretation.)

These regulations provide for

i.        increases in loan limits;

ii.       increases in income eligibility limits; and

iii.      the application of an administration and mortgage protection insurance charge for loans made prior to 1 July 1986 and from 1 July 1986.