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Section 148 Determination of landlord’s share, initial discount etc.C1F1

England and Wales

The landlord’s share shall be determined by the formula—

S=P-IPPx100

the amount of the initial discount shall be determined by the formula—

ID=IPPxD

and the amount of any previous discount which will be recovered by virtue of the transaction shall be determined by the formula—

RD=IPPxPD

where—

S = the landlord’s share expressed as a percentage;

P = the price which would be payable if the tenant were exercising the right to buy;

IP = the amount of the tenant’s initial payment (but disregarding any reduction in pursuance of section 153B(3));

ID = the amount of the initial discount;

D = the amount of the discount which would be applicable if the tenant were exercising the right to buy;

RD = the amount of any previous discount which will be recovered by virtue of the transaction;

PD = the amount of any previous discount which would be recovered if the tenant were exercising the right to buy.

Annotations

Textual amendments

F1

S. 148 substituted (11.10.1993) by 1993 c. 28, s. 113; S.I. 1993/2134, arts. 2, 4(b) (with saving in Sch.1 para. 4(1)).

Modifications

C1

Ss. 143-151 amended (11.10.1993) by 1993 c. 28, s. 107(c); S.I. 1993/2134, arts. 2, 4(b) (with saving in Sch. 1 para. 4(1)).

Notes on Part V

Modifications

C1

Pt. V (ss. 118–188) amended by Local Government Act 1985 (c. 51, SIF 81:1), s. 57(7), Sch. 13 paras. 22 and 23 as substituted by Housing (Consequential Provisions) Act 1985 (c. 71, SIF 61), s. 4, Sch. 2 para. 61

C2

Pt. V (ss. 118–188) modified by S.I. 1986/2092, arts. 3, 6, Sch. 1 (as amended (2.7.2012) by S.I. 2012/1659, art. 1(2), Sch. 3 para. 30 (with arts. 4-6)); S.I. 1987/1732, arts. 3(1), 4(1); S.I. 1989/368, art. 2, Sch. 1; S.I.1990/179, art. 2, Sch. 1

C3

Pt. V (ss. 118-188) applied (with modifications) (11.10.1993) by S.I. 1993/2240, art. 3, Sch. (as amended (W.) (3.9.2012) by S.I. 2012/2090, art. 1(2), Sch. para. 2)

Pt. V (ss. 118-188) modified (11.10.1993) by S.I. 1993/2241, regs.2, 3, Schs. 1-4 (as amended (W.) (3.9.2012) by S.I. 2012/2090, art. 1(2), Sch. para. 1).

Pt. V (ss. 118-188) modified (1.4.1995) by S.I. 1995/401, art. 18, Sch. para. 8(c)

Pt. V (ss. 118-188): power to modify conferred (1.8.1996) by 1996 c. 52, s. 17(2)(3) (with s. 54(1)); S.I. 1996/2048, art. 2(1)

C4

Pt. V (ss. 118-188) applied (1.8.1996) by 1996 c. 52, s. 17(2)(3) (with s. 54(1)); S.I. 1996/2048, art. 2(1)

C5

Pt. V (ss. 118-188) restricted (4.2.1997) by 1996 c. 52, s. 130(4); S.I. 1997/66, art. 2 (subject to savings in Sch.)

C6

Pt. V modified (1.4.1997) by S.I. 1997/619, regs. 1, 2, Schs. 1, 2 (as amended (W.) (3.9.2012) by S.I. 2012/2090, art. 1(2), Sch. para. 3)

C7

Pt. V applied by 2008 c. 17, s. 184(2) (as substituted (26.1.2019) by Abolition of the Right to Buy and Associated Rights (Wales) Act 2018 (anaw 1), s. 11(3)(4), Sch. 1 para. 6(6); S.I. 2018/100, art. 2(b) (with art. 3) (with savings in S.I. 2019/110, reg. 5))

C8

Pt. V amendment to earlier affecting provision S.I. 1997/619, reg. 2, Schs. 1, 2 (3.9.2012) by The Housing (Wales) Measure 2011 (Consequential Amendments to Subordinate Legislation) Order 2012 (S.I. 2012/2090), art. 1(2), Sch. para. 3

C9

Pt. V amendment to earlier affecting provision S.I. 1993/2240, Sch. (3.9.2012) by The Housing (Wales) Measure 2011 (Consequential Amendments to Subordinate Legislation) Order 2012 (S.I. 2012/2090), art. 1(2), Sch. para. 2

C10

Pt. V amendment to earlier affecting provision S.I. 1993/2241, Schs. 1, 2 (W.) (3.9.2012) by The Housing (Wales) Measure 2011 (Consequential Amendments to Subordinate Legislation) Order 2012 (S.I. 2012/2090), art. 1(2), Sch. para. 1

C11

Pt. V amendment to earlier affecting provision S.I. 1986/2092, Sch. 1 Pt. 1 para. 42(a) (2.7.2012) by The British Waterways Board (Transfer of Functions) Order 2012 (S.I. 2012/1659), art. 1(2), Sch. 3 para. 30 (with arts. 4-6)

Notes on Right to acquire on rent to mortgage terms

Textual amendments

F1

Ss. 143, 143A, 143B and accompanying header substituted for s. 143 and header (2.9.1993 so far as confers on Secretary of State a power to make orders, regulations or declarations, 11.10.1993 in so far as it is not in force) by 1993 c. 28, s. 108; S.I. 1993/2134, arts. 2,3, 4(b) (with saving in Sch. 1 para. 4(1)).