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The Housing (Northern Ireland) Order 2003

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Draft Legislation:

This is a draft item of legislation. This draft has since been made as a UK Statutory Instrument: The Housing (Northern Ireland) Order 2003 No. 412

Meaning of relevant disposal

84.—(1) A disposal is a relevant disposal for the purposes of the provisions of this Chapter relating to grant conditions if it is—

(a)a conveyance of a freehold estate in possession (whether legal or equitable) or an assignment of the lease, or

(b)the grant of a lease (other than a mortgage term) for a term of more than 21 years otherwise than at a rack rent.

(2) For the purposes of paragraph (1)(b) it shall be assumed—

(a)that any option to renew or extend a lease or sub-lease, whether or not forming part of a series of options, is exercised, and

(b)that any option to terminate a lease or sub-lease is not exercised.

(3) The grant of an option enabling a person to call for a relevant disposal shall be treated as such a disposal made to him.

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