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Paragraph 7A F1

Changes not yet applied. Later legislation changes this provision in ways not yet written into the text below:

Where—

(a)

a lease contains provision under which the rent may be adjusted,

(b)

under that provision the first (or only) such adjustment—

(i)

is to an amount that (before the adjustment) is uncertain, and

(ii)

has effect from a date (the “review date”) that is expressed as falling five years after a specified date,

and

(c)

the specified date falls within the three months before the beginning of the term of the lease,

this Schedule has effect as if references to the first five years of the term of the lease were to the period beginning with the start of the term of the lease and ending with the review date. References to the fifth year of the term of the lease shall be read accordingly.

Annotations

Textual amendments

F1

Sch. 17A inserted (with effect in accordance with Sch. 39 para. 26 of the amending Act) by Finance Act 2004 (c. 12), Sch. 39 para. 22(2) (which amending provision re-enacts, subject to certain changes, a corresponding amendment made by the now revoked Stamp Duty and Stamp Duty Land Tax (Variation of the Finance Act 2003) (No. 2) Regulations 2003 (S.I. 2003/2816), see Sch. 39 para. 14) (with Sch. 39 paras. 11, 13(5))