Prospective

Schedules

Schedule 4E+WDetermining and sharing the market value

Part 5E+WThe standard valuation method

IntroductionE+W

24(1)This Part of this Schedule sets out the standard valuation method.

(2)The standard valuation method consists of steps 1 to 3 (see paragraph 25, paragraph 27 or 28, and paragraph 29).

(3)There are two versions of step 2—

(a)the version in paragraph 27 applies to freehold enfranchisements;

(b)the version in paragraph 28 applies to lease extensions.

Commencement Information

I1Sch. 4 para. 24 not in force at Royal Assent, see s. 124(3)