Paragraph 7
England and Wales
(1)
The diminution in value of any intermediate leasehold interest is the difference between—
(a)
the value of that interest prior to the grant of the new lease; and
(b)
the value of that interest once the new lease is granted.
(2)
Each of those values shall be determined, as at F1the relevant date, in accordance with paragraph 8.
Annotations
Textual amendments
- F1
Words in Sch. 13 para. 7 substituted (26.7.2002 for E. and 1.1.2003 for W.) by Commonhold and Leasehold Reform Act 2002 (c. 15), s. 134; S.I. 2002/1912, art. 2(b)(i) (subject to Sch. 2); S.I. 2002/3012, art. 2(b)(i) (subject to Sch. 2)
Notes on Schedule 13
Commencement
- I1
Sch. 13 wholly in force at 1.11.1993 see s. 188(2) and S.I. 1993/2134, art. 5