Section 15A Treatment of deferred resale agreements for purposes of section 11F1C1
England and Wales
If a purchaser or his successor in title enters into an agreement within subsection (3), any liability arising under the covenant required by section 11 shall be determined as if a relevant disposal which is not an exempted disposal had occurred at the appropriate time.
In subsection (1) “the appropriate time” means—
the time when the agreement is entered into, or
if it was made before the beginning of the discount repayment period, immediately after the beginning of that period.
An agreement is within this subsection if it is an agreement between the purchaser or his successor in title and any other person—
which is made (expressly or impliedly) in contemplation of, or in connection with, a disposal to be made, or made, by virtue of section 8,
which is made before the end of the discount repayment period, and
under which a relevant disposal which is not an exempted disposal is or may be required to be made to any person after the end of that period.
Such an agreement is within subsection (3)—
whether or not the date on which the relevant disposal is to take place is specified in the agreement, and
whether or not any requirement to make that disposal is or may be made subject to the fulfilment of any condition.
The F2Welsh Ministers may by order provide—
for subsection (1) to apply to agreements of any description specified in the order in addition to those within subsection (3);
for subsection (1) not to apply to agreements of any description so specified to which it would otherwise apply.
An order under subsection (5)—
may make different provision with respect to different cases or descriptions of case; and
shall be made by statutory instrument which shall be subject to annulment in pursuance of a resolution of F3the National Assembly for Wales .
In this section—
“agreement” includes arrangement;
“the discount repayment period” means the period of three or five years that applies for the purposes of section 11(2) (depending on whether an offer such as is mentioned in section 199(3) of the Housing Act 2004 was made before or on or after the coming into force of that section).
Annotations
Textual amendments
- F1
S. 15A inserted (18.11.2004 for specified purposes, 18.1.2005 in so far as not already in force) by Housing Act 2004 (c. 34), ss. 201(1), 270(2)(b), (3)(a) (with s. 201(2))
- F2
Words in s. 15A(5) substituted (1.4.2010) by Housing and Regeneration Act 2008 (c. 17), ss. 62(a), 325(1); S.I. 2010/862, art. 2 (with Sch.)
- F3
Words in s. 15A(6)(b) substituted (1.4.2010) by Housing and Regeneration Act 2008 (c. 17), ss. 63, 325(1); S.I. 2010/862, art. 2 (with Sch.)
Modifications
- C1
Pt. 1: The system of "registered social landlords" under this Part is replaced (8.9.2008 for specified purposes and 1.12.2008, 16.2.2009, 1.4.2009, 7.9.2009 and 1.4.2010 for further purposes) by Housing and Regeneration Act 2008 (c. 17), Pt. 2. This Part continues to apply in relation to Wales with certain provisions applied in relation to England and certain provisions preserved although they apply to England only, see s. 60 of the affecting Act; S.I. 2008/2358, art. 3; S.I. 2008/3068, art. 3 (with arts. 6-13); S.I. 2009/363, art. 2; S.I. 2009/803, art. 7; S.I. 2009/2096, art. 2(1); S.I. 2010/862, art. 2 (with Sch.)
Notes on Part I
Textual amendments
- F1
Pt. I title substituted (1.4.2010) by Housing and Regeneration Act 2008 (c. 17), ss. 61(1), 325(1); S.I. 2010/862, art. 2 (with Sch.)
- F2
Words in Pt. I title substituted (18.10.2011) by Housing (Wales) Measure 2011 (nawm 5), s. 90(2), Sch. para. 2; S.I. 2011/2475, arts. 1(2), 2(u)
Modifications
- C1
Part I (ss. 1-64) amended (1.10.1996) by S.I. 1996/2325, art.3
Notes on Chapter II
Textual amendments
- F1
Pt. 1: The system of "registered social landlords" under this Part is replaced (8.9.2008 for specified purposes and 1.12.2008, 16.2.2009, 1.4.2009, 7.9.2009 and 1.4.2010 for further purposes) by Housing and Regeneration Act 2008 (c. 17), Pt. 2. This Part continues to apply in relation to Wales with certain provisions applied in relation to England and certain provisions preserved although they apply to England only, see s. 60 of the affecting Act; S.I. 2008/2358, art. 3; S.I. 2008/3068, art. 3 (with arts. 6-13); S.I. 2009/363, art. 2; S.I. 2009/803, art. 7; S.I. 2009/2096, art. 2(1); S.I. 2010/862, art. 2 (with Sch.)
Notes on Requirements relating to land transactions
Textual amendments
- F1
Words in s. 9 cross-heading substituted (15.8.2018) by Regulation of Registered Social Landlords (Wales) Act 2018 (anaw 4), s. 19(2), Sch. 2 para. 4; S.I. 2018/777, art. 3(g)