F3[13. (1) An affordable dwelling purchase arrangement shall be registrable in the Registry of Deeds as an act of the homeowner affecting the dwelling.]

F4[(2) For the avoidance of doubt, the court or, subject to an appeal to the court, the Property Registration Authority may on an application to it under section 98 of the Registration of Title Act 1964 make an order or, in the case of an application to the Authority, an entry, under that section inhibiting any registration, on any folio in which an affordable dwelling or any part thereof is registered, under a disposition by, or transmission, from, the registered owner without the consent of the housing authority.]

(3) A housing authority may, subject to subsection (4), enter into an agreement (either generally or in relation to a particular affordable dwelling purchase arrangement) with a holder of a licence under the Central Bank Act 1971, a building society or other financial institution regulating the order of priority as between either or both of an affordable dwelling equity and any terms of an affordable dwelling purchase arrangement and a mortgage or charge proposed to be created in favour of that holder, building society or financial institution.

(4) A housing authority may enter into an agreement referred to in subsection (3) only if it considers that the agreement will—

(a) enable an eligible applicant to obtain an advance of moneys from the holder of a licence, building society or financial institution referred to in subsection (3) for the purposes of purchasing the dwelling, or

(b) enable an eligible applicant—

(i) to refinance an existing advance of moneys from the same or any other holder of a licence, building society or financial institution referred to in subsection (3), or

(ii) to obtain a further advance of moneys from the same or any other holder of a licence, building society or financial institution referred to in subsection (3), for any purpose, where the priority of any security for such further advance of moneys will not impair the capacity of the housing authority to realise the affordable dwelling equity.