OpenLegislation

Paragraph 3

England and Wales

Changes not yet applied. Later legislation changes this provision in ways not yet written into the text below:

(1)

In the case of any vesting order, the appropriate sum which in accordance with paragraph 2(1) is to be paid into court in respect of any interest is the aggregate of—

(a)

such amount as is fixed by the relevant terms of acquisition as the price which is payable in accordance with Schedule 6 in respect of that interest; and

(b)

any amounts or estimated amounts determined by F1the appropriate tribunal as being, at the time of execution of the conveyance, due to the transferor from any tenants of his of premises comprised in the premises in which that interest subsists (whether due under or in respect of their leases or under or in respect of agreements collateral thereto).

(2)

In this paragraph “the transferor”, in relation to any interest, means the person from whom the interest is to be acquired by the nominee purchaser.

Annotations

Textual amendments

F1

Words in Sch. 5 para. 3(1)(b) substituted (1.7.2013) by The Transfer of Tribunal Functions Order 2013 (S.I. 2013/1036), art. 1, Sch. 1 para. 125 (with Sch. 3)

Notes on Schedule 5

Commencement

I1

Sch. 5 wholly in force at 1.11.1993 see s. 188(2) and S.I. 1993/2134, art. 5