Schedules
Schedule 8Remediation costs under qualifying leases etc
I13No service charge payable if landlord meets contribution condition
1
No service charge is payable under a qualifying lease in respect of a relevant measure relating to any relevant defect if the landlord under the lease at the qualifying time (“the relevant landlord”) met the contribution condition.
2
The contribution condition is that the landlord group’s net worth at the qualifying time was more than N x £2,000,000,
where N is the number of relevant buildings within sub-paragraph (3).
3
A relevant building is within this sub-paragraph if a member of the landlord group was, at the qualifying time, a landlord under a lease of the relevant building or any part of it.
4
For the purposes of this paragraph—
a
“the landlord group” means the relevant landlord and any person associated with the relevant landlord;
b
the net worth of the landlord group at the qualifying time is to be determined in accordance with regulations made by the Secretary of State.
5
The Secretary of State may by regulations amend the amount for the time being specified in sub-paragraph (2).
6
This paragraph does not apply if, at the qualifying time, the relevant landlord was—
a
a private registered provider of social housing (as to which see section 80 of the Housing and Regeneration Act 2008),
b
a local authority (as defined by section 30), or
c
a prescribed person.