- Latest available (Revised)
- Original (As enacted)
Long Leases (Scotland) Act 2012
You are here:
- Acts of the Scottish Parliament
- 2012 asp 9
- Part 4
- Renewal premiums
What Version
Advanced Features
- Show Geographical Extent(e.g. England, Wales, Scotland and Northern Ireland)
- Show Timeline of Changes
Opening Options
More Resources
Changes to legislation:
There are currently no known outstanding effects for the Long Leases (Scotland) Act 2012, Cross Heading: Renewal premiums.
Changes to Legislation
Revised legislation carried on this site may not be fully up to date. At the current time any known changes or effects made by subsequent legislation have been applied to the text of the legislation you are viewing by the editorial team. Please see ‘Frequently Asked Questions’ for details regarding the timescales for which new effects are identified and recorded on this site.
Renewal premiumsS
49Calculation of notional annual renewal premiumS
(1)This section applies where—
(a)a lease contains a renewal obligation,
(b)the renewal premium (determined in accordance with subsection (3)) next payable on or after the appointed day is less than or equal to £100, and
(c)the lease complies with section 1(3)(b) and (c) by virtue of section 71(1)(b).
(2)For the purpose of section 47, the notional annual renewal premium is calculated according to the following formula—
where—
NARP is the notional annual renewal premium,
RP is the renewal premium (determined in accordance with subsection (3)) next payable on or after the appointed day,
Y is the renewal period (expressed as a number of years).
(3)The renewal premium is—
(a)where the lease is not a partially continuing lease and the renewal premium payable immediately before the appointed day was a cumulo renewal premium, the renewal premium allocated to the lease under section 42,
(b)where the lease is a partially continuing lease, the renewal premium allocated to the converted subjects under section 43,
(c)in any other case, the renewal premium payable under the lease.
Commencement Information
I1S. 49 in force at 28.11.2013 by S.S.I. 2013/322, art. 2(d)
Options/Help
Print Options
PrintThe Whole Act
PrintThe Whole Part
PrintThis Cross Heading only
Legislation is available in different versions:
Latest Available (revised):The latest available updated version of the legislation incorporating changes made by subsequent legislation and applied by our editorial team. Changes we have not yet applied to the text, can be found in the ‘Changes to Legislation’ area.
Original (As Enacted or Made): The original version of the legislation as it stood when it was enacted or made. No changes have been applied to the text.
See additional information alongside the content
Geographical Extent: Indicates the geographical area that this provision applies to. For further information see ‘Frequently Asked Questions’.
Show Timeline of Changes: See how this legislation has or could change over time. Turning this feature on will show extra navigation options to go to these specific points in time. Return to the latest available version by using the controls above in the What Version box.
Opening Options
Different options to open legislation in order to view more content on screen at once
Explanatory Notes
Text created by the Scottish Government to explain what the Act sets out to achieve and to make the Act accessible to readers who are not legally qualified. Explanatory Notes were introduced in 1999 and accompany all Acts of the Scottish Parliament except those which result from Budget Bills.
More Resources
Access essential accompanying documents and information for this legislation item from this tab. Dependent on the legislation item being viewed this may include:
- the original print PDF of the as enacted version that was used for the print copy
- lists of changes made by and/or affecting this legislation item
- confers power and blanket amendment details
- all formats of all associated documents
- correction slips
- links to related legislation and further information resources
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.
More Resources
Use this menu to access essential accompanying documents and information for this legislation item. Dependent on the legislation item being viewed this may include:
- the original print PDF of the as enacted version that was used for the print copy
- correction slips
Click 'View More' or select 'More Resources' tab for additional information including:
- lists of changes made by and/or affecting this legislation item
- confers power and blanket amendment details
- all formats of all associated documents
- links to related legislation and further information resources
All content is available under the Open Government Licence v3.0 except where otherwise stated. This site additionally contains content derived from EUR-Lex, reused under the terms of the Commission Decision 2011/833/EU on the reuse of documents from the EU institutions. For more information see the EUR-Lex public statement on re-use.