Part 5: Housing, Estate Agents and Rentcharges: Other Changes Enfranchisement and extension of long leaseholds Schedule 10: Enfranchisement and extension of long leaseholds: calculations
This Schedule amends Schedule 1 to the 1967 Act to enable the Secretary of State in relation to a tenancy in Wales or the Welsh Ministers in relation to a tenancy in England to set out in regulations the method for calculating the price payable for a minor superior tenancy. This is where a tenant of a leasehold house exercises the right to acquire the freehold of that house. The amendments apply to cases where the notice that the tenant wishes to acquire the freehold is given before this Act is passed but on or after 11 July 2015.
	Schedule 10 also amends Schedule 6 to the 1993 Act so that the Secretary of State in the case of a leasehold interest in England and the Welsh Ministers in the case of a leasehold interest in Wales can make regulations setting out the method by which the value of a minor intermediate leasehold interest is calculated. This is where a group of tenants exercise their right to acquire collectively the freehold of a block of flats. The amendments apply to cases where the notice of claim to exercise the right to enfranchise is given before this Act is passed but on or after 11 July 2015.
	Paragraph 5 amends Schedule 13 to the 1993 Act so that the value of a minor intermediate leasehold interest in relation to the individual right of a tenant of a flat to acquire a new lease is calculated in accordance with regulations made by the Secretary of State or the Welsh Ministers. The amendments apply to cases where the relevant time (as defined in section 39(8) of the 1993 Act) is before this Act is passed but on or after 11 July 2015.