SCHEDULES
SCHEDULE 10Enfranchisement and extension of long leaseholds: calculations
Leasehold Reform Act 1967
1
1
In Schedule 1 to the Leasehold Reform Act 1967 (enfranchisement and extension by sub-tenants), paragraph 7A is amended as follows.
2
For sub-paragraph (1) substitute—
1
The price payable for a minor superior tenancy is to be calculated in accordance with regulations made by the appropriate national authority instead of in accordance with section 9.
3
Omit sub-paragraphs (5) and (6).
4
At the end insert—
7
In sub-paragraph (1) “appropriate national authority” means—
a
in relation to a tenancy of land in England, the Secretary of State;
b
in relation to a tenancy of land in Wales, the Welsh Ministers.
8
Regulations under sub-paragraph (1) may include transitional provision.
9
Regulations under sub-paragraph (1) are to be made by statutory instrument.
10
A statutory instrument containing regulations under sub-paragraph (1) is subject to annulment—
a
in the case of an instrument made by the Secretary of State, in pursuance of a resolution of either House of Parliament;
b
in the case of an instrument made by the Welsh Ministers, in pursuance of a resolution of the National Assembly for Wales.
5
The amendments made by this paragraph apply to cases where the relevant time is—
a
before this Act is passed, but
b
on or after 11 July 2015,
as well as to cases where the relevant time is after this Act is passed.
6
The “relevant time” has the meaning given by section 37(1)(d) of the Leasehold Reform Act 1967.