Leasehold and Freehold Reform Act 2024

Prospective

Other consequential amendments to the LRHUDA 1993 E+W

27 (1) Schedule 2 (special categories of landlords) is amended as follows.

(2) In paragraph 1 (interpretation), omit sub-paragraph (2).

(3) In paragraph 5 (trustees)—

(a) in sub-paragraph (1), for the words from “sum” to “Chapter I” substitute “share payable to the landlord, as determined under Part 6 of Schedule 4 to the Leasehold and Freehold Reform Act 2024, of the purchase price in respect of the acquisition of the interest,”;

(b) in sub-paragraph (2)(a), for “premium” substitute “share of the price payable”.

(4) In paragraph 7 (universities and colleges)—

(a) in sub-paragraph (1), for the words from “sum” to “Chapter I” substitute “share payable to the landlord, as determined under Part 6 of Schedule 4 to the Leasehold and Freehold Reform Act 2024, of the purchase price in respect of the acquisition of the interest”;

(b) in sub-paragraph (2)(a), for “premium” substitute “share of the price payable”.

(5) In paragraph 8 (ecclesiastical landlords)—

(a) in sub-paragraph (2)(a), omit “or premium”;

(b) in sub-paragraph (3)(a)—

(i) in the words before paragraph (i), after “by way of” insert “a share of”;

(ii) in paragraph (i), for “for any interest in the property on its acquisition” substitute “in respect of the acquisition of any interest in the property”;

(iii) in paragraph (ii), for “a premium” substitute “the price payable”;

(c) in sub-paragraph (4)(b)—

(i) in the words before paragraph (i), after “by way of” insert “a share of”;

(ii) in paragraph (i), for “for any interest in property on its acquisition” substitute “in respect of the acquisition of any interest in property”;

(iii) in paragraph (ii), for “a premium” substitute “the price payable”.

Commencement Information

I1 Sch. 7 para. 27 not in force at Royal Assent, see s. 124(3)