Regulation 6 Payment for outstanding shares in the house: circumstances prescribed under paragraph 3A(2)(e) of Schedule 4A to the Act
The circumstances prescribed under paragraph 3A(2)(e) of Schedule 4A to the Act for the purposes of paragraph 3A(1)(a) of that Schedule are that the lease must provide—
that there shall have been a disposal, other than an exempt disposal, of any interest in the house by the tenant; and
that the amount payable by the tenant to the landlord is to be an amount no greater than the same percentage of the market value price at the date of the disposal as is represented by the percentage of the shares in the house remaining un-acquired by the tenant.
In paragraph (1) “exempt disposal” means—
a disposal under a will or intestacy;
a grant of a sub-tenancy of part of the house, if any other part of the house remains in the possession of the tenant; or
a grant of a mortgage.
Annotations
Footnotes
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1977. c. 42. Case 11 was amended by the Housing Act 1980 (c. 51) and the Rent (Amendment) Act 1985 (c. 24). Case 12 was amended by, and Case 20 inserted by, the Housing Act 1980.