PART 5Housing, estate agents and rentcharges: other changes

Rentcharges

137Redemption price for rentcharges

1

The Rentcharges Act 1977 is amended as follows.

2

In section 9(4)(a), after “in accordance with” insert “ regulations under ”.

3

In section 10, for subsection (1) substitute—

1

For the purposes of section 9 above, the redemption price for a rentcharge is to be calculated in accordance with regulations made by the Secretary of State.

4

In section 12(2), after “such” insert “ transitional, ”.

5

The amendments made by this section apply in relation to cases where—

a

an application for a redemption certificate is made under section 8 of the Rentcharges Act 1977 before this Act is passed, but

b

the instructions for redemption have not been served on the applicant under section 9(4) of the Rentcharges Act 1977 before this Act is passed,

as well as to cases involving an application for a redemption certificate made after this Act is passed.