SCHEDULE 1MODIFICATIONS TO PART V AS APPLIED TO THE PRESERVED RIGHT TO BUY

PART IEXCEPTIONS AND ADAPTATIONS

26

In section 156 (liability to repay is a charge on the premises)–

a

in subsections (1) and (3A), for the words “required by” substitute the words “imposed by virtue of”;

b

for subsection (2) substitute–

2

The charge has priority immediately after any legal charge securing an amount–

a

advanced to the qualifying person for the purpose of enabling him to exercise the right to buy, or

b

further advanced to him by the person who made that advance.

c

omit subsections (4) to (6).