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The Housing (Right to Buy) (Limits on Discount) (Wales) Order 1999
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- 1999 No. 292
- Explanatory Note
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Explanatory Note
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A person exercising the right to buy a dwelling-house in Wales under Part V of the Housing Act 1985 may be entitled, under sections 129 to 131 of and Schedule 4 to the Act, to a discount equal to a percentage of the price before discount.
The discount may not, however, reduce the price by more than such sum as the Secretary of State may by order prescribe, nor may it reduce the price below an amount representing the costs incurred over a specified period of time in respect of the dwelling-house in accordance with a determination by the Secretary of State. This Order prescribes the maximum discount to be given in Wales when the right to buy is exercised (superseding and revoking, as respects Wales, the Housing (Right to Buy) (Maximum Discount) Order 1989 which specified a maximum discount of £50,000). It also specifies the period of time used in the calculation of costs incurred as 10 years (instead of 8 years).
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