136 Disregard of marriage value in case of very long leasesE+W
This section has no associated Explanatory Notes
(1)Paragraph 4 of Schedule 13 to the 1993 Act (meaning of marriage value) is amended as follows.
(2)In sub-paragraph (2), insert at the beginning “ Subject to sub-paragraph (2A), ”.
(3)After that sub-paragraph insert—
“(2A)Where at the relevant date the unexpired term of the tenant’s existing lease exceeds eighty years, the marriage value shall be taken to be nil.”
Commencement Information
I1S. 136 wholly in force at 1.1.2003; s. 136 not in force at Royal Assent, see s. 181(1); s. 136 in force at 26.7.2002 for E. by S.I. 2002/1912, art. 2(b)(i) (subject to transitional provisions and savings in Sch. 2); s. 136 in force at 1.1.2003 for W. by S.I. 2002/3012, art. 2(b)(i) (subject to transitional provisions and savings in Sch. 2)