PART VTHE RIGHT TO BUY

Purchase price

131Limits on amount of discount.

1

Except where the Secretary of State so determines, the discount shall not reduce the price below the amount which, in accordance with a determination made by him, is to be taken as representing so much of the costs incurred in respect of the dwelling-house as, in accordance with the determination—

a

is to be treated as incurred after 31st March 1974 (or such later date as may be specified in an order made by the Secretary of State), and

b

is to be treated as relevant for the purposes of this sub-section;

and if the price before discount is below that amount, there shall be no discount.

2

The discount shall not in any case reduce the price by more than such sum as the Secretary of State may by order prescribe.

3

An order or determination under this section may make different provision for different cases or descriptions of case, including different provision for different areas.

4

An order under this section shall be made by statutory instrument which shall be subject to annulment in pursuance of a resolution of either House of Parliament.