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Housing Act 1985, Section 148 is up to date with all changes known to be in force on or before 15 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.
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The landlord’s share shall be determined by the formula—
the amount of the initial discount shall be determined by the formula—
and the amount of any previous discount which will be recovered by virtue of the transaction shall be determined by the formula—
where—
S = the landlord’s share expressed as a percentage;
P = the price which would be payable if the tenant were exercising the right to buy;
IP = the amount of the tenant’s initial payment (but disregarding any reduction in pursuance of section 153B(3));
ID = the amount of the initial discount;
D = the amount of the discount which would be applicable if the tenant were exercising the right to buy;
RD = the amount of any previous discount which will be recovered by virtue of the transaction;
PD = the amount of any previous discount which would be recovered if the tenant were exercising the right to buy.]
Textual Amendments
F2S. 148 substituted (11.10.1993) by 1993 c. 28, s. 113; S.I. 1993/2134, arts. 2, 4(b) (with saving in Sch.1 para. 4(1)).
Modifications etc. (not altering text)
C12Ss. 143-151 amended (11.10.1993) by 1993 c. 28, s. 107(c); S.I. 1993/2134, arts. 2, 4(b) (with saving in Sch. 1 para. 4(1)).
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