For section 146 of the 1985 Act there shall be substituted the following section—
(1)Where a notice under section 144 (notice claiming to exercise the right to acquire on rent to mortgage terms) has been served by the tenant, the landlord shall, unless the notice is withdrawn, serve on the tenant as soon as practicable a written notice either—
(a)admitting the tenant’s right and informing him of the matters mentioned in subsection (2), or
(b)denying it and stating the reasons why, in the opinion of the landlord, the tenant does not have the right to acquire on rent to mortgage terms.
(2)The matters are—
(a)the relevant amount and multipliers for the time being declared by the Secretary of State for the purposes of section 143B;
(b)the amount of the minimum initial payment;
(c)the proportion which that amount bears to the price which would be payable if the tenant exercised the right to buy;
(d)the landlord’s share on the assumption that the tenant makes the minimum initial payment;
(e)the amount of the initial discount on that assumption; and
(f)the provisions which, in the landlord’s opinion, should be contained in the conveyance or grant and the mortgage required by section 151B (mortgage for securing redemption of landlord’s share).”
Commencement Information
I1S. 110 wholly in force at 11.10.1993 (subject to the transitional provisions and savings in Sch. 1 to S.I. 1993/2134) see s. 188(2) and S.I. 1993/2134, art. 4(b)