PART 2

TENANTS OF SOCIAL LANDLORDS
CHAPTER 2

RIGHT TO BUY

Discounts
49
1
Section 62 (the price) of the 1987 Act is amended as follows.
2
In subsection (3)—
a
for paragraph (a) substitute—
a
20 per cent of the market value of the house,
,
b
in paragraph (b), for the words from “or, where” to “beyond 2” substitute “ of the market value for every year beyond 5 ”,
c
for the words from “60 per cent” to the end substitute “ 35 per cent or Â£15,000, whichever is less ”.
3
In subsection (3A)—
a
for “the appropriate person” substitute “ any of the persons mentioned in subsection (4)(a)(i) to (iv) ”,
b
the words “by any of these persons” are repealed.
4
After subsection (3A) insert—
3B
Where a previous discount was received by two or more persons jointly, subsection (3A) has effect as if each of them had received an equal proportion of the discount.
5
In subsection (4)—
a
in paragraph (a), for “such occupation” substitute “ occupation of the type mentioned in subsection (3)(b) ”,
b
the words from “and, for the purposes” to the end are repealed.
6
In subsection (5)—
a
in paragraph (b), for “two” substitute “ 5 ”,
b
for “higher” substitute “ other ”.
7
After subsection (5) insert—
5A
The Scottish Ministers may by order vary the maximum amount of discount for the time being specified in subsection (3).
8
In subsection (6)—
a
after “(5)” insert “ or (5A) ”,
b
in paragraph (a), after “case” insert “ or different areas ”.
S. 49 wholly in force at 30.9.2002, see s. 113(1)(2) and S.S.I. 2002/321, art. 2 (subject to transitional provisions and savings in arts. 3-5)