Localism Act 2011

177 Assisting tenants of social landlords to become home owners E+W

In section 122 of the Housing and Regeneration Act 2008 (registered providers of social housing in England: restriction on gifts and distributions to members etc) after subsection (5) (the third class of permitted payments) insert—

“(5A) Class 4 is payments which—

(a) are in accordance with the constitution of the registered provider,

(b) are paid for the benefit of tenants of the provider, and

(c) are in any particular case paid to assist the tenant to obtain other accommodation by acquiring a freehold, or long-leasehold, interest in a dwelling.

(5B) For the purposes of subsection (5A)—

• “long-leasehold interest”, in relation to a dwelling, means the lessee's interest under a lease of the dwelling granted, for a premium, for a term certain exceeding 21 years;

• “acquiring”, in relation to a long-leasehold interest in a dwelling, includes acquiring by grant and acquiring by assignment.”