This is the original version (as it was originally enacted).
13(1)In the case of the grant of a lease none of the following counts as chargeable consideration—
(a)any undertaking by the tenant to repair, maintain or insure the demised premises (in Scotland, the leased premises);
(b)any undertaking by the tenant to pay any amount in respect of services, repairs, maintenance or insurance or the landlord’s costs of management;
(c)any other obligation undertaken by the tenant that is not such as to affect the rent that a tenant would be prepared to pay in the open market;
(d)any guarantee of the payment of rent or the performance of any other obligation of the tenant under the lease;
(e)any penal rent, or increased rent in the nature of a penal rent, payable in respect of the breach of any obligation of the tenant under the lease.
(2)Where sub-paragraph (1) applies in relation to an obligation, a payment made in discharge of the obligation does not count as chargeable consideration.
(3)The assumption or (as the case may be) release of any such obligation as is mentioned in sub-paragraph (1) does not count as chargeable consideration in relation to the assignment or surrender of the lease.
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