175 Determination of price payable.E+W
(1)Where, in the case of a tenancy or sub-tenancy to which this section applies, the tenant exercises his right to acquire the freehold under Part I of the Leasehold Reform Act 1967, the price payable for the dwelling-house shall be determined in accordance with section 9(1A) of that Act notwithstanding that [F1the circumstances specified in that section do not apply].
(2)This section applies to a tenancy created by the grant of a lease in pursuance of this Part of a dwelling-house which is a house.
(3)Where Part I of the 1967 Act applies as if there had been a single tenancy granted for a term beginning at the same time as the term under a tenancy falling within subsection (2) and expiring at the same time as the term under a later tenancy, this section also applies to that later tenancy.
(4)This section applies to any sub-tenancy directly or indirectly derived out of a tenancy falling within subsection (2) or (3).
(5)This section also applies to a tenancy granted in substitution for a tenancy or sub-tenancy falling within subsections (2) to (4) in pursuance of Part I of the 1967 Act.
Textual Amendments
F1Words substituted by S.I. 1990/434, reg. 2, Sch. para. 20