1(1)In Schedule 1 to the Leasehold Reform Act 1967 (enfranchisement and extension by sub-tenants), paragraph 7A is amended as follows.E+W
(2)For sub-paragraph (1) substitute—
“(1)The price payable for a minor superior tenancy is to be calculated in accordance with regulations made by the appropriate national authority instead of in accordance with section 9.”
(3)Omit sub-paragraphs (5) and (6).
(4)At the end insert—
“(7)In sub-paragraph (1) “appropriate national authority” means—
(a)in relation to a tenancy of land in England, the Secretary of State;
(b)in relation to a tenancy of land in Wales, the Welsh Ministers.
(8)Regulations under sub-paragraph (1) may include transitional provision.
(9)Regulations under sub-paragraph (1) are to be made by statutory instrument.
(10)A statutory instrument containing regulations under sub-paragraph (1) is subject to annulment—
(a)in the case of an instrument made by the Secretary of State, in pursuance of a resolution of either House of Parliament;
(b)in the case of an instrument made by the Welsh Ministers, in pursuance of a resolution of the National Assembly for Wales.”
(5)The amendments made by this paragraph apply to cases where the relevant time is—
(a)before this Act is passed, but
(b)on or after 11 July 2015,
as well as to cases where the relevant time is after this Act is passed.
(6)The “relevant time” has the meaning given by section 37(1)(d) of the Leasehold Reform Act 1967.