Housing Act 1980

1 (1) Section 86 of the 1977 Act is amended as follows.

(2) In subsection (2) after the word " tenancy", where it first occurs, there are inserted the words " (other than a co-ownership tenancy) ".

(3) In subsection (3), for the words from " is a registered society " to the end there are substituted the words " falls within section 15(3)(c)of this Act ".

(4) After subsection (3) there is inserted the following subsection—

“(3A) For the purposes of this section a tenancy is a ' co-ownership tenancy' if—

(a) it was granted by a housing association which falls within section 15(3)(d) of this Act; and

(b) the tenant (or his personal representatives) will, under the terms of the tenancy agreement or of the agreement under which he became a member of the association, be entitled, on his ceasing to be a member and subject to any conditions stated in either agreement, to a sum calculated by reference directly or indirectly to the value of the dwelling-house.”.

(5) For subsection (4) there is substituted the following subsection—

“(4) In this Part of this Act " housing trust" has the same meaning as in section 15 of this Act.”.