Regulation 2 Power to purchase an equitable interest to assist a tenant to meet service charge payments
(1)
A housing authority (“the landlord”) may with the agreement of the tenant purchase an equitable interest in a flat where the conditions in paragraph (2) are satisfied.
(2)
The conditions mentioned in paragraph (1) are that—
(a)
a long lease of the flat was granted or assigned by the landlord or another housing authority;
(b)
the tenant is liable under the terms of the lease to pay service charges to the landlord in respect of repairs or improvement contributions (whether to the flat, the building in which it is situated or any other building or land); and
(c)
the purpose of the purchase is to assist the tenant to meet some or all of the service charge payments.