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Changes over time for: Cross Heading: Compensatory payment
Llinell Amser Newidiadau
This timeline shows the different points in time where a change occurred. The dates will coincide with the earliest date on which the change (e.g an insertion, a repeal or a substitution) that was applied came into force. The first date in the timeline will usually be the earliest date when the provision came into force. In some cases the first date is 01/02/1991 (or for Northern Ireland legislation 01/01/2006). This date is our basedate. No versions before this date are available. For further information see the Editorial Practice Guide and Glossary under Help.
Status:
Point in time view as at 06/03/2014.
Changes to legislation:
There are currently no known outstanding effects for the Long Leases (Scotland) Act 2012, Cross Heading: Compensatory payment.
Changes to Legislation
Revised legislation carried on this site may not be fully up to date. At the current time any known changes or effects made by subsequent legislation have been applied to the text of the legislation you are viewing by the editorial team. Please see ‘Frequently Asked Questions’ for details regarding the timescales for which new effects are identified and recorded on this site.
Compensatory paymentS
45Requiring compensatory paymentS
(1)This section applies where, on the appointed day, the rights of a landlord under a lease are extinguished by virtue of Part 1.
(2)The former landlord under such a lease may serve on the former tenant a notice in the prescribed form requiring that a compensatory payment be made to the former landlord by the former tenant.
(3)The compensatory payment must be—
(a)calculated in accordance with section 47, and
(b)specified in the notice.
(4)A notice served under subsection (2) must be—
(a)served before the expiry of the period of 2 years beginning with the appointed day, and
(b)accompanied by a copy of the prescribed explanatory note.
(5)Where the compensatory payment required is equal to or greater than £50, the former landlord must, together with the notice served under subsection (2), serve on the former tenant an instalment document.
(6)This section is subject to section 56.
(7)In this Act—
“compensatory payment” means a payment of the kind mentioned in subsection (2),
“instalment document” is to be construed in accordance with section 57(2).
46Making compensatory paymentS
(1)This section applies where the former landlord has served notice in accordance with section 45.
(2)The former tenant must, before the expiry of the period of 56 days beginning with the day on which the notice is served, make the compensatory payment to the former landlord.
(3)Subsection (2) is subject to section 57.
Yn ôl i’r brig