Section 105 Variation of other considerationI1

(1)

Where consideration other than rent is payable under a secure contract, the amount of consideration may be varied—

(a)

by agreement between the landlord and the contract-holder, or

(b)

by the landlord in accordance with subsections (2) to (4).

(2)

The landlord may give the contract-holder a notice setting out a new amount of consideration to take effect on the date specified in the notice.

(3)

The period between the day on which the notice is given to the contract-holder and the specified date may not be less than two months.

(4)

Subject to that—

(a)

the first notice may specify any date, and

(b)

subsequent notices must specify a date which is not less than one year after the last date on which a new amount of consideration took effect.

(5)

This section is a fundamental provision which is incorporated as a term of all secure contracts under which consideration other than rent is payable.

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