Statutory Instruments
HOUSING, ENGLAND AND WALES
Made
16th March 1989
Laid before Parliament
21st March 1989
Coming into force
11th April 1989
The Secretary of State for the Environment, as respects England, and the Secretary of State for Wales, as respects Wales, in exercise of the powers conferred on them by section 131(2) of the Housing Act 1985(1), and of all other powers enabling them in that behalf, hereby make the following Order:
1. This Order may be cited as the Housing (Right to Buy) (Maximum Discount) Order 1989 and comes into force on 11th April 1989.
2. The sum of £50,000 is prescribed as the maximum sum by which the price payable for a dwelling-house on a conveyance or grant under Part V of the Housing Act 1985 may be reduced by discount under section 129(2) of that Act.
3. The Housing (Right to Buy) (Maximum Discount) Order 1986(3) is revoked.
Nicholas Ridley
Secretary of State for the Environment
15th March 1989
Peter Walker
Secretary of State for Wales
16th March 1989
(This note is not part of the Order.)
A person exercising the right to buy a dwelling-house in England or Wales under Part V of the Housing Act 1985 may be entitled, under sections 129 to 131 of and Schedule 4 to the Act, to a discount equal to a certain percentage of the price before discount, which price is calculated in accordance with section 126 of the Act.
The discount may not, however, reduce the price by more than such sum as the Secretary of State may by order prescribe. By this Order, £50,000 is prescribed as the maximum discount, in place of £35,000 prescribed by the Housing (Right to Buy) (Maximum Discount) Order 1986. This Order revokes the 1986 Order.
Section 129 is amended by section 2 of the Housing and Planning Act 1986 (c. 63).
S.I. 1986/2193.