SCHEDULES

SCHEDULE 18 Allowable Premiums

Part II Premium Allowed under Sections 121 and 127

7

(1)

The fraction is

XYmath

where

  • X is the residue of the term of the tenancy at the date of the assignment, and

  • Y is the term for which the tenancy was granted.

(2)

Sub-paragraph (1) above shall apply where a tenancy has been assigned as it applies where a tenancy has been granted and then Y in the fraction shall be the residue, at the date of that assignment, of the term for which the tenancy was granted.