Search Legislation

Building Safety Act 2022

 Help about what version

What Version

 Help about advanced features

Advanced Features

 Help about opening options

Opening OptionsExpand opening options

Changes over time for: Paragraph 6

 Help about opening options

Alternative versions:

Changes to legislation:

Building Safety Act 2022, Paragraph 6 is up to date with all changes known to be in force on or before 16 November 2024. There are changes that may be brought into force at a future date. Changes that have been made appear in the content and are referenced with annotations. Help about Changes to Legislation

Paragraph 5: the permitted maximumE+W

This section has no associated Explanatory Notes

6(1)In paragraph 5the permitted maximum”, in relation to a qualifying lease, has the following meaning.

(2)The permitted maximum is (subject to sub-paragraphs (3) to (5))—

(a)if the premises demised by the qualifying lease are in Greater London, £15,000;

(b)otherwise, £10,000.

(3)Where the value of the qualifying lease at the qualifying time exceeded £1,000,000 but did not exceed £2,000,000, the permitted maximum is £50,000.

(4)Where the value of the qualifying lease at the qualifying time exceeded £2,000,000, the permitted maximum is £100,000.

(5)Where the qualifying lease is a shared ownership lease and the tenant’s total share was less than 100% at the qualifying time—

(a)the value of the qualifying lease at that time is to be determined as if the tenant’s total share at that time was 100%;

(b)the permitted maximum is the tenant’s total share (as at that time) of what would otherwise be the permitted maximum.

(6)The Secretary of State may by regulations make provision about the determination of the value of a qualifying lease for the purposes of paragraph 4 and this paragraph.

(7)The regulations may in particular provide that, except in prescribed cases, the value of a qualifying lease at the qualifying time is to be determined by—

(a)ascertaining the consideration given on the latest disposal of the qualifying lease on the open market to have been made before that time, and

(b)if that disposal occurred before 2022, uprating the consideration in accordance with the regulations.

(8)In this paragraph “shared ownership lease” and “total share” have the meaning given by section 7 of the Leasehold Reform, Housing and Urban Development Act 1993.

Commencement Information

I1Sch. 8 para. 6 in force at 28.6.2022, see s. 170(3)(a)

Back to top

Options/Help

You have chosen to open The Whole Act

The Whole Act you have selected contains over 200 provisions and might take some time to download. You may also experience some issues with your browser, such as an alert box that a script is taking a long time to run.

Would you like to continue?

You have chosen to open The Whole Act as a PDF

The Whole Act you have selected contains over 200 provisions and might take some time to download.

Would you like to continue?

You have chosen to open the Whole Act

The Whole Act you have selected contains over 200 provisions and might take some time to download. You may also experience some issues with your browser, such as an alert box that a script is taking a long time to run.

Would you like to continue?

You have chosen to open the Whole Act without Schedules

The Whole Act without Schedules you have selected contains over 200 provisions and might take some time to download. You may also experience some issues with your browser, such as an alert box that a script is taking a long time to run.

Would you like to continue?

You have chosen to open Schedules only

The Schedules you have selected contains over 200 provisions and might take some time to download. You may also experience some issues with your browser, such as an alert box that a script is taking a long time to run.

Would you like to continue?