PART 5PROVISIONS APPLYING ONLY TO SECURE CONTRACTS

CHAPTER 2VARIATION OF CONTRACTS

I1110Failure to provide written statement etc.

1

If the landlord fails to comply with a requirement under section 109 the landlord is liable to pay the contract-holder compensation under section 87.

2

The compensation is payable in respect of the relevant date and every day after the relevant date until—

a

the day on which the landlord gives the contract-holder a written statement of the term or terms varied, or of the contract as varied, or

b

if earlier, the last day of the period of two months starting with the relevant date.

3

Interest on the compensation is payable if the landlord fails to give the contract-holder a written statement on or before the day referred to in subsection (2)(b).

4

The interest starts to run on the day referred to in subsection (2)(b) at the rate prevailing under section 6 of the Late Payment of Commercial Debts (Interest) Act 1998 (c. 20) at the end of that day.

5

The relevant date is the day on which the contract was varied.

6

Subsections (1) to (5) do not apply if the landlord's failure to comply with the requirement is attributable to an act or omission of the contract-holder.

7

If under section 109 the landlord gives the contract-holder a written statement of the contract as varied, sections 36 and 37 (incomplete and incorrect statements) apply to the statement as if F1, in subsection (3) of both of those sections, for the words from “starting” to the end there were substituted “ starting with the day on which the contract was varied ” .