{
  "url": "https://openlegislation.uk/housing-act-1985/section-148",
  "json_url": "https://openlegislation.uk/housing-act-1985/section-148.json",
  "legislation": "ukpga/1985/68",
  "legislation_title": "Housing Act 1985",
  "legislation_url": "https://openlegislation.uk/housing-act-1985",
  "path": "section/148",
  "kind": "section",
  "number": "148",
  "heading": "Determination of landlord’s share, initial discount etc.",
  "text": "The landlord’s share shall be determined by the formula—\nS=P-IPPx100the amount of the initial discount shall be determined by the formula—\nID=IPPxDand the amount of any previous discount which will be recovered by virtue of the transaction shall be determined by the formula—\nRD=IPPxPDwhere—\nS = the landlord’s share expressed as a percentage;\nP = the price which would be payable if the tenant were exercising the right to buy;\nIP = the amount of the tenant’s initial payment (but disregarding any reduction in pursuance of section 153B(3));\nID = the amount of the initial discount;\nD = the amount of the discount which would be applicable if the tenant were exercising the right to buy;\nRD = the amount of any previous discount which will be recovered by virtue of the transaction;\nPD = the amount of any previous discount which would be recovered if the tenant were exercising the right to buy.",
  "extent": "E+W",
  "status": null,
  "version": "current",
  "annotations": [
    {
      "type": "F",
      "label": "F1",
      "text": "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))."
    },
    {
      "type": "C",
      "label": "C1",
      "text": "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))."
    }
  ],
  "outstanding_effects": [],
  "provenance": {
    "source": "legislation.gov.uk",
    "source_url": "https://www.legislation.gov.uk/ukpga/1985/68/section/148",
    "retrieved_at": "2026-10-29T09:59:47.243826+00:00",
    "licence": "OGL-UK-3.0",
    "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."
  }
}