SCHEDULES
F1SCHEDULE 8. . .
Additional shares
1
1
The lease shall state the tenant’s initial share of the dwelling-house and shall contain provision enabling the tenant to acquire additional shares in the dwelling-house, which shall be either the prescribed percentage (within the meaning of section 145) or a multiple of that percentage.
2
The right so conferred is exercisable at any time during the term of the lease on the tenant serving written notice on the landlord, stating the additional share he proposes to acquire.
3
Where the tenant claims to exercise the right to acquire an additional share, the landlord shall, as soon as practicable, serve on the tenant a written notice stating—
a
the amount which in the opinion of the landlord should be the amount of the consideration for that share on the assumption that the share is as stated in the tenant’s notice, and
b
the effective discount on an acquisition of that share,
determined in each case, in accordance with paragraph 3(1).
4
A notice required by this paragraph may be withdrawn at any time by notice in writing served on the landlord.
Sch. 8 repealed (11.10.1993) by 1993 c. 28, s. 187(2), Sch. 22; S.I. 1993/2134, arts. 2, 4(b), Sch. 2 (with saving in Sch. 1 para. 4(1)).