131 Limits on amount of discountE+W
(1)Except where the Secretary of State so determines, the discount shall not reduce the price below the amount which, in accordance with a determination made by him, is to be taken as representing so much of the costs incurred in respect of the dwelling-house as, in accordance with the determination—
[F1(a)is to be treated as incurred at or after the beginning of that period of account of the landlord in which falls the date which is eight years, or such other period of time as may be specified in an order made by the Secretary of State, earlier than the relevant time, and]
(b)is to be treated as relevant for the purposes of this sub-section;
and if the price before discount is below that amount, there shall be no discount.
[F2(1A) In subsection (1)(a) above “ period of account ”, in relation to any costs, means the period for which the landlord made up those of its accounts in which account is taken of those costs. ]
(2)The discount shall not in any case reduce the price by more than such sum as the Secretary of State may by order prescribe.
(3)An order or determination under this section may make different provision for different cases or descriptions of case, including different provision for different areas.
(4)An order under this section shall be made by statutory instrument which shall be subject to annulment in pursuance of a resolution of either House of Parliament.
Textual Amendments
F1S. 131(1)(a) substituted by Housing Act 1988 (c. 50, SIF 61), s. 122(2)(4)
F2S. 131(1A) inserted by Housing Act 1988 (c. 50, SIF 61), s. 122(3)(4)