PART 2 TENANTS OF SOCIAL LANDLORDS

CHAPTER 2 RIGHT TO BUY

I149 Discounts

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 £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the words “by any of these persons” are repealed.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the words from “and, for the purposes” to the end are repealed.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 ”.