OpenLegislation

Paragraph 2

In a case where this Part of this Schedule applies, nothing in section 120 of this Act shall prevent any person from requiring or receiving, on an assignment of the protected tenancy referred to in paragraph 1(1)(a) above or any subsequent protected tenancy of the same dwelling-house, a premium which does not exceed an amount calculated (subject to paragraph 4 below) in accordance with the formula—

PxAG

where

  • P is the premium referred to in paragraph 1(1)(a) above;

  • A is the length of the period beginning on the date on which the assignment in question takes effect and ending on the relevant date; and

  • G is the length of the period beginning on the date of the grant, renewal or continuance in respect of which the premium was paid and ending on the relevant date.