Housing Act 1969

2 The permissible part shall be such part of the premium as bears to the whole thereof the same proportion as the period referable to that part bears to the period referable to the premium ; and there shall be taken, as the period referable to the premium—

(a) if it was paid on the grant of the tenancy, the term for which the tenancy was granted ; and

(b) if it was paid on an assignment of the tenancy, the residue of that term at the date of the assignment;

and, as the period referable to the permissible part, the residue of that term at the date of the assignment in connection with which that part may be required and received in pursuance of this Schedule.