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Changes over time for: Paragraph 15
Timeline of Changes
This timeline shows the different points in time where a change occurred. The dates will coincide with the earliest date on which the change (e.g an insertion, a repeal or a substitution) that was applied came into force. The first date in the timeline will usually be the earliest date when the provision came into force. In some cases the first date is 01/02/1991 (or for Northern Ireland legislation 01/01/2006). This date is our basedate. No versions before this date are available. For further information see the Editorial Practice Guide and Glossary under Help.
Status:
Point in time view as at 24/07/2024. This version of this provision is prospective.
Status
The term provision is used to describe a definable element in a piece of legislation that has legislative effect – such as a Part, Chapter or section. A version of a provision is prospective either:
- where the provision (Part, Chapter or section) has never come into force or;
- where the text of the provision is subject to change, but no date has yet been appointed by the appropriate person or body for those changes to come into force.
Commencement Orders listed in the ‘Changes to Legislation’ box as not yet applied may bring this prospective version into force.
Note: Point in time prospective is the latest available view of the legislation that includes by default all the prospective changes that might come into force.
Changes to legislation:
There are currently no known outstanding effects for the Leasehold and Freehold Reform Act 2024, Paragraph 15.
Changes to Legislation
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Prospective
Meaning of “shared ownership lease”E+W
This section has no associated Explanatory Notes
15In section 37(1) (interpretation of Part 1)—
(a)after paragraph (b) insert—
“(bza)“landlord’s share”, in relation to a shared ownership lease, means the share in the premises demised by the lease which is not comprised in the tenant’s share;”;
(b)after paragraph (d) insert—
“(da)“shared ownership lease” means a lease of premises—
(i)granted on payment of a premium calculated by reference to a percentage of the value of the premises or of the cost of providing them, or
(ii)under which the tenant (or the tenant’s personal representatives) will or may be entitled to a sum calculated by reference, directly or indirectly, to the value of the premises;
(db)“tenant’s share”, in relation to a shared ownership lease, means the tenant’s initial share in the premises demised by the lease, plus any additional share or shares in those demised premises which the tenant has acquired;”.
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