Building Loans (Amendment No. 13) (Jersey) Law 2018

Building Loans (Amendment No. 13) ( Jersey) Law 2018 A LAW to amend further the Building Loans (Jersey) Law 1950 Adopted by the States 31st October 2017 Sanctioned by Order of Her Majesty in Council 8th February 2018 Registered by the Royal Court 16th February 2018 THE STATES , subject to the sanction of Her Most Excellent Majesty in Council, have adopted the following Law – 1 Article 4 of Building Loans (Jersey) Law 1950 amended For Article 4(1) of the Building Loans (Jersey) Law 1950 [1] , there shall be substituted the following paragraph – “(1) Except as provided by Article 5, every loan shall be secured by a simple conventional hypothec charged on the property in relation to which the loan is made and shall bear interest at the prescribed rate calculated and paid on the days and in the manner required from time to time by the Minister.”. 2 Citation and commencement This Law may be cited at the Building Loans (Amendment No. 13) (Jersey) Law 2018 and shall come into force on the day after it is registered by the Royal Court. a.c. goodyear Assistant Greffier of the States [1] chapter 24.090