OpenLegislation

Regulation 72 Hostels and lodging housesI1

England and Wales Not yet in force

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

In the case of a capital receipt which is received in respect of the disposal of an interest in a hostel (within the meaning given to that expression in section 622 of the Housing Act 1985) or a lodging-house (within the meaning given to that expression in section 56 of that Act), the reserved part shall be 75 per cent. if—

(a)

the hostel or lodging-house is held for the purposes of Part II of that Act (provision of housing accommodation);

(b)

the receipt is not a nil per cent. receipt; and

(c)

where the authority is a local authority in Wales, the reserved part of the receipt does not fall to be determined in accordance with regulation 78.

Annotations

Commencement

I1

Reg. 72 in force at 1.4.1997, see reg. 1(1)(b)