{
  "url": "https://openlegislation.uk/draft-building-safety-levy-england-regulations-2025/schedule-2/paragraph-3",
  "json_url": "https://openlegislation.uk/draft-building-safety-levy-england-regulations-2025/schedule-2/paragraph-3.json",
  "legislation": "ukdsi/2025/9780348273779",
  "legislation_title": "The Building Safety Levy (England) Regulations 2025",
  "legislation_url": "https://openlegislation.uk/draft-building-safety-levy-england-regulations-2025",
  "path": "schedule/2/paragraph/3",
  "kind": "paragraph",
  "number": "3",
  "heading": "Condition 2",
  "text": "(1) Condition 2 is that the following criteria are met—\n(a) the dwelling is occupied in accordance with shared ownership arrangements within the meaning of section 70(4) of the Housing and Regeneration Act 2008,\n(b) the percentage of the value of the dwelling paid as a premium on the day on which a lease is granted under the shared ownership arrangement does not exceed 75% of the market value (where the market value at any time is the price which the dwelling might reasonably be expected to fetch if sold at that time on the open market),\n(c) on the day on which a lease is granted under the shared ownership arrangements, the annual rent payable is not more than 3% of the value of the unsold interest, and\n(d) the restricted rent increase condition is met in respect of the lease.\n(2) The restricted rent increase condition is met in respect of a lease if—\n(a) the annual rent payable under the lease is not increased more than once in any 12 month period, and\n(b) if the annual rent is increased with effect from a date within that period (the “rent increase date”), either—\n(i) the percentage increase does not exceed the RPI increase for the reference period plus 0.5%, or\n(ii) the percentage increase does not exceed the CPI increase for the reference period plus 1%.\n(3) In sub-paragraph (2)(b), the “reference period”, in relation to a rent increase date, means a period of 12 months—\n(a) beginning on the first day of a month specified in, or determined by reference to, the lease, and\n(b) ending less than 12 months before the rent increase date.\n(4) In this paragraph—\n(a) “consumer prices index” means—\n(i) the general index for consumer prices for all items published by the Statistics Board, or\n(ii) if that index is not published for a particular month, any substituted index or index figures published by the Statistics Board;\n(b) the “CPI increase”, in relation to a reference period, means the percentage change in the consumer prices index for the period;\n(c) “retail prices index” means—\n(i) the general index of retail prices for all items published by the Statistics Board, or\n(ii) if that index is not published for a particular month, any substituted index or index figures published by the Statistics Board;\n(d) the “RPI increase”, in relation to a reference period, means the percentage change in the retail prices index for the period.",
  "extent": null,
  "status": null,
  "version": "current",
  "annotations": [
    {
      "type": "footnote",
      "label": "f1",
      "text": "The Statistics Board was established by section 1 of the Statistics and Registration Service Act 2007 (c. 18)."
    }
  ],
  "outstanding_effects": [],
  "provenance": {
    "source": "legislation.gov.uk",
    "source_url": "https://www.legislation.gov.uk/ukdsi/2025/9780348273779/schedule/2/paragraph/3",
    "retrieved_at": "2026-10-30T14:38:50.608425+00:00"
  },
  "licence": "Open Government Licence v3.0",
  "licence_url": "https://www.nationalarchives.gov.uk/doc/open-government-licence/version/3/",
  "attribution": "Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives."
}