SCHEDULE
MODIFICATIONS OF PART V
1. In section 124 (notice admitting or denying right to buy) after subsection (2) insert–
“3 A freeholder’s notice under this section shall inform the tenant of any application for a determination under paragraph 11 of Schedule 5 (determination that right to buy not to be capable of exercise) and, in the case of a notice admitting the tenant’s right to buy, is without prejudice to any determination made on such an application.”.
2. In section 138A3(distribution of purchase money and discount)–
(a) in subsection (1)–
(i) for the formula substitute–
(ii) in the definition of P after “tenant” insert “(disregarding any reduction to be made under section 153B(3) (payments of rent attributable to purchase price etc.))”; and
(iii) after the definition of V insert–
“S is zero except in a case where the formula is applied to calculate the amount payable to a landlord or an intermediate landlord on which an operative notice of delay (which in this section has the same meaning as in section 153B) has been served, and in that case–
(a) where no operative notice of delay has been served on the freeholder and an operative notice of delay has been served on only one landlord or intermediate landlord, S is the amount of the reduction to be made under section 153B(3), and
(b) in any other case S is an amount equal to the aggregate of–
(i) the total of any payments on account treated as having been paid by the tenant by virtue of section 153B(2) solely because of the service of the operative notice of delay on the relevant landlord or intermediate landlord, and a rateable apportionment of any such payments as are so treated because of the service of operative notices of delay both on the relevant landlord or intermediate landlord and on one or more other authorities or bodies, and
(ii) if section 153B(3)(b) has applied, a sum equal to the appropriate...
