The Housing Association Shared Ownership Leases (Exclusion from Leasehold Reform Act 1967 and Rent Act 1977) Regulations 1987

Explanatory Note

(This note is not part of the Regulations)

Schedule 4 to the Housing and Planning Act 1986 introduces amendments to the Leasehold Reform Act 1967, the Rent (Agriculture) Act 1976 (c. 80) and the Rent Act 1977, whereby certain shared ownership leases are excluded from the provisions of those Acts. Leases granted by housing associations, which fulfil the conditions respectively set out in paragraphs 3(2) and 4(2) of Schedule 4A to the 1967 Act and section 5A(2) of the 1977 Act (or that section as modified by the 1976 Act) are so excluded. Those conditions relate to the terms of the leases in question and provide for certain additional requirements and circumstances to be prescribed in regulations made by the Secretary of State. No other percentage is prescribed for the purposes of paragraph 3(2)(b) of Schedule 4A to the 1967 Act or section 5A(2)(b) of the 1977 Act.

These Regulations prescribe the necessary additional requirements and circumstances. They also prescribe the meaning of the expression “lease for the elderly” used in paragraph 4 of Schedule 4A.