Prospective
Involvement of other landlords: collective enfranchisement under the LRHUDA 1993E+W
4In Schedule 8 to the LRHUDA 1993 (discharge of mortgages etc)—
(a)in paragraph 1, for the definition of “the consideration payable” substitute—
““the consideration payable” means the share payable to the landlord, as determined under Part 6 of Schedule 4 to the Leasehold and Freehold Reform Act 2024, of the purchase price for the acquisition of the relevant interest;”;
(b)in paragraph 4, after sub-paragraph (3) insert—
“(4)If the amount to be applied for the redemption of a mortgage under paragraph 2, or that may be paid into the tribunal under sub-paragraph (1), cannot be ascertained because the share of the purchase price payable to the relevant landlord has not been agreed or determined under Part 6 of Schedule 4 to the Leasehold and Freehold Reform Act 2024, the nominee purchaser may pay the whole of the price payable into the tribunal.”
Commencement Information
I1Sch. 7 para. 4 not in force at Royal Assent, see s. 124(3)