{
  "url": "https://openlegislation.uk/leasehold-reform-housing-and-urban-development-act-1993/section-113",
  "json_url": "https://openlegislation.uk/leasehold-reform-housing-and-urban-development-act-1993/section-113.json",
  "legislation": "ukpga/1993/28",
  "legislation_title": "Leasehold Reform, Housing and Urban Development Act 1993",
  "legislation_url": "https://openlegislation.uk/leasehold-reform-housing-and-urban-development-act-1993",
  "path": "section/113",
  "kind": "section",
  "number": "113",
  "heading": "Determination of landlord’s share, initial discount etc.",
  "text": "For section 148 of the 1985 Act there shall be substituted the following section—\n“ Determination of landlord’s share, initial discount etc.\n148 The landlord’s share shall be determined by the formula—\nS=P-IPPx100the amount of the initial discount shall be determined by the formula—\nID=IPPxDand the amount of any previous discount which will be recovered by virtue of the transaction shall be determined by the formula—\nRD=IPPxPDwhere—\nS = the landlord’s share expressed as a percentage;\nP = the price which would be payable if the tenant were exercising the right to buy;\nIP = the amount of the tenant’s initial payment (but disregarding any reduction in pursuance of section 153B(3));\nID = the amount of the initial discount;\nD = the amount of the discount which would be applicable if the tenant were exercising the right to buy;\nRD = the amount of any previous discount which will be recovered by virtue of the transaction;\nPD = the amount of any previous discount which would be recovered if the tenant were exercising the right to buy.”",
  "extent": null,
  "status": null,
  "version": "current",
  "annotations": [
    {
      "type": "I",
      "label": "I1",
      "text": "S. 113 wholly in force at 11.10.1993 (subject to the transitional provisions and savings in Sch. 1 to S.I. 1993/2134) see s. 188(2) and S.I. 1993/2134, art. 4(b)"
    }
  ],
  "outstanding_effects": [],
  "provenance": {
    "source": "legislation.gov.uk",
    "source_url": "https://www.legislation.gov.uk/ukpga/1993/28/section/113",
    "retrieved_at": "2026-10-29T09:35:01.928287+00:00"
  },
  "licence": "Open Government Licence v3.0",
  "licence_url": "https://www.nationalarchives.gov.uk/doc/open-government-licence/version/3/",
  "attribution": "Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives."
}