372. Transfer of local authority mortgage.

372.     Transfer of local authority mortgage.

A local authority1 must not dispose of its interest as mortgagee of land2 without the prior written consent of the mortgagor (or, if there is more than one mortgagor, all of them) specifying the name of the person to whom the interest is to be transferred3. A disposal made without this consent is void4. The Secretary of State, or, in relation to Wales, the Welsh Ministers5 may by regulations6:

  1.  

    (1)     require a local authority to give to a mortgagor whose consent is sought such information as may be prescribed7;

  2.  

    (2)     prescribe