Leasehold Reform, Housing and Urban Development Act 1993

7 (1) Where a Chapter I landlord is a university or college to which the M1 Universities and College Estates Act 1925 applies, any sum payable to the landlord by way of the price payable for any interest on its acquisition in pursuance of Chapter I shall be dealt with as if it were an amount payable by way of consideration on a sale effected under that Act. E+W

(2) Where a Chapter II landlord is a university or college to which that Act applies—

(a) any sum payable to the landlord by way of a premium on the grant of a new lease under Chapter II or section 93(4) shall be dealt with as if it were an amount payable by way of consideration on a sale effected under that Act; and

(b) the purposes authorised—

(i) by section 26 of that Act for the application of capital money, and

(ii) by section 31 of that Act as purposes for which money may be raised by mortgage,

shall include the payment of compensation as mentioned in paragraph [F1 6] above.

Textual Amendments

F1 Words in Sch. 2 para. 7(2)(b) substituted (1.1.1997) by 1996 c. 47, s. 25(1), Sch. 3 para. 27(2)(c) (with ss. 24(2), 25(4)); S.I. 1996/2974, art.2

Marginal Citations

M1 1925 c. 24.