Regulation 35 Leases having an initial cost which includes consideration under earlier leaseI1

England and Wales Not yet in force

(1)

In this regulation—

“dwelling-house” has the same meaning as in Part IV of the Housing Act 1985 (secure tennancies and rights of secure tenants);
“excluded tenancy” means a tenancy or licence to occupy a dwelling-house which, for the purposes of Part IV of the Housing Act 1985, was excluded from being a secure tenancy by virtue of paragraph 4 (accommodation for homeless persons)^f1 or paragraph 6 (short-term arrangements) of Schedule 1 to that Act; and
“relevant lease” means any lease of land other than a lease of a dwelling-house which—
1. (i)
  
  was, at any time after 31st March 1990 and before 1st April 1997, let or occupied under an excluded tenancy; or
2. (ii)
  
  has, at any time after 31st March 1997, been used by the authority or any other local authority to provide accommodation in the exercise of their functions under Part VII of the Housing Act 1996 (homelessness).

(2)

Subject to regulations 37 and 38, where in relation to a relevant lease of land—

(a)

the initial cost does not fall to be determined under any of regulations 28 to 34,

(b)

the authority had an earlier leasehold interest (“the preceding interest”) in the whole or part of the land, and

(c)

the authority acquired the preceding interest on or after 1st April 1990 under a lease of which the initial cost was nil by virtue of these Regulations or the 1990 Regulations^f2,

the initial cost shall be the aggregate of the capital cost of the relevant lease and the value of the consideration given by the authority in respect of the preceding interest.

Annotations

Commencement

I1: Reg. 35 in force at 1.4.1997, see reg. 1(1)(b)

Footnotes

f1: Paragraph 4 was substituted as from 20th January 1997 by paragraph 3 of Schedule 17 to the Housing Act 1996 (c. 52).
f2: See regulation 7 of the 1990 Regulations.