Schedule 2 - Determining and sharing the market value

“Insolvency of certain persons with an interest in higher-risk and relevant buildings – in the House of Commons at 6:00 pm on 27 February 2024.

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Votes in this debate

Amendments made: 52, page 125, line 27, after “rent” insert

“(and any other rent payable under a shared ownership lease in respect of the landlord’s share)”.

This is consequential on Amendments 24 and 29.

Amendment 53, page 134, line 27, leave out “4(3)” and insert “22(2) and (3)”.—(Lee Rowley.)

This amendment would correct an incorrect cross-reference.

Amendment proposed: 4, page 136, line 40, at end insert—

“(9) In setting the deferment rate the Secretary of State must have regard to the desirability of encouraging leaseholders to acquire their freehold at the lowest possible cost.”—(Matthew Pennycook.)

This amendment would ensure that when determining the applicable deferment rate, the Secretary of State would have to have regard to the desirability of encouraging leaseholders to acquire their freehold at the lowest possible cost.

Question put, That the amendment be made.

Division number 83 Leasehold and Freehold Reform Bill Report Stage: Amendment 4

Aye: 171 MPs

No: 297 MPs

Aye: A-Z by last name

Tellers

No: A-Z by last name

Tellers

The House divided: Ayes 171, Noes 300.

Question accordingly negatived.

Amendments made: 54, page 139, line 31, after “transaction” insert—

“(taking into account, where paragraph 31(1)(c) applies, any reduction under paragraph 12A of Schedule 1 to the LRA 1967 or paragraph 12 of Schedule 11 to the LRHUDA 1993 in the rent of a lease of which the eligible person is a tenant)”

This ensures that any reduction of rent payable by a person as a tenant where there is commutation of rent is taken into account when determining the person’s loss for the purpose of sharing the consideration payable on an enfranchisement or extension.

Amendment 55, page 144, line 16, leave out “4(3)” and insert “22(2) and (3)”.—(Lee Rowley.)

This amendment would correct an incorrect cross-reference.