31 Determination of terms by [F1F2... tribunal].E+W
(1)[F3The appropriate tribunal] shall have jurisdiction to determine the terms on which the landlord’s interest in the premises specified in an acquisition order may be acquired by the nominated person to the extent that those terms have not been determined by agreement between the landlord and either—
(a)the qualifying tenants in whose favour the order was made, or
(b)the nominated person;
and (subject to subsection (2)) [F4the tribunal] shall determine any such terms on the basis of what appears to them to be fair and reasonable.
(2)Where an application is made under this section for [F4the tribunal] to determine the consideration payable for the acquisition of a landlord’s interest in any premises, [F4the tribunal] shall do so by determining an amount equal to the amount which, in their opinion, that interest might be expected to realise if sold on the open market by a willing seller on the appropriate terms and on the assumption that none of the tenants of the landlord of any premises comprised in those premises was buying or seeking to buy that interest.
(3)In subsection (2) “the appropriate terms” means all of the terms to which the acquisition of the landlord’s interest in pursuance of the order is to be subject (whether determined by agreement as mentioned in subsection (1) or on an application under this section) apart from those relating to the consideration payable.
(4)On any application under this section the interests of the qualifying tenants in whose favour the acquisition order was made shall be represented by the nominated person, and accordingly the parties to any such application shall not include those tenants.
F5(5). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
(6)Nothing in this section shall be construed as authorising [F6the appropriate tribunal] to determine any terms dealing with matters in relation to which provision is made by section 32 or 33.
Textual Amendments
F1Words in s. 31(1)(6) and title substituted (1.10.1996) by 1996 c. 52, s. 92(1), Sch. 6 Pt. IV para. 5(a); S.I. 1996/2212, art. 2(2) (with Sch.)
F2Words in s. 31 omitted (1.7.2013) by virtue of The Transfer of Tribunal Functions Order 2013 (S.I. 2013/1036), art. 1, Sch. 1 para. 73(a) (with Sch. 3)
F3Words in s. 31(1) substituted (1.7.2013) by The Transfer of Tribunal Functions Order 2013 (S.I. 2013/1036), art. 1, Sch. 1 para. 73(b) (with Sch. 3)
F4Words in s. 31(1)(2) substituted (1.10.1996) by 1996 c. 52, s. 92(1), Sch. 6 Pt. IV para. 5(b); S.I. 1996/2212, art. 2(2) (with Sch.)
F5S. 31(5) repealed (1.10.1996) by 1996 c. 52, ss. 92(1), 227, Sch. 6 Pt. IV para. 5(c); S.I. 1996/2212, art. 2(2) (with Sch.)
F6Words in s. 31(6) substituted (1.7.2013) by The Transfer of Tribunal Functions Order 2013 (S.I. 2013/1036), art. 1, Sch. 1 para. 73(c) (with Sch. 3)