Regulation 3 Amendment of regulation 1

after the definition of “the Act” insert—

• ““current landlord” means a person who is the landlord under a lease of premises in a relevant building^f1;

• “named manager” means, in relation to a building, a person who is named in a lease as being the party with managing and repairing obligations in relation to the building or part of the building and who is a separate legal person from the freeholder of the building and any landlord of the building or part of the building;”

after the definition of “RTM company” insert—

• ““shared ownership lease” means a lease—

  1. (a)

     granted on payment of a premium calculated by reference to a percentage of the value of the demised premises or the cost of providing them, or

  2. (b)

     under which the tenant (or the tenant’s personal representatives) will or may be entitled to a sum calculated by reference, directly or indirectly, to the value of those premises.”.