Part III Amounts Payable to Owners of Intermediate Leasehold Interests
Leasehold Reform, Housing and Urban Development Act 1993 (1993 c 28) | Legislation

Part III Amounts Payable to Owners of Intermediate Leasehold Interests

Amount payable to owner of intermediate interest

6

In connection with the grant of the new lease to the tenant there shall be payable by the tenant to the owner of any intermediate leasehold interest an amount which is the aggregate of—

(a)ÌýÌýÌýÌý the diminution in value of that interest as determined in accordance with paragraph 7; and

(b)ÌýÌýÌýÌý any amount of compensation payable to him under paragraph 9.

Diminution in value of intermediate interest

7

(1)ÌýÌýÌýÌý The diminution in value of any intermediate leasehold interest is the difference between—

(a)ÌýÌýÌýÌý the value of that interest prior to the grant of the new lease; and

(b)ÌýÌýÌýÌý the value of that interest once the new lease is granted.

(2)ÌýÌýÌýÌý Each of those values shall be determined, as at [the relevant date], in accordance with paragraph 8.

Value of intermediate interests

8

(1)ÌýÌýÌýÌý Subject to sub-paragraph (2), paragraph 3(2) to (6) shall apply for determining the value of any intermediate

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