Leasehold and Freehold Reform Bill - Committee (2nd Day) – in the House of Lords at 4:15 pm on 24 April 2024.
Baroness Scott of Bybrook:
Moved by Baroness Scott of Bybrook
25: Schedule 4, page 157, line 35, at end insert—“(1A) If section 3(3) of the LRA 1967 applies to the current lease (successive leases treated as a single lease), sub-paragraph (1) is to apply only if the one of those leases which is in effect at the valuation date is a market rack rent lease.”Member's explanatory statementThis modifies the application of paragraph 8 where successive leases are “chained” to constitute a long lease under the LRA 1967.
Amendment 25 agreed.
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