Schedule 8 – Leasehold enfranchisement and extension: Miscellaneous amendments Part 2: Shared ownership leases and the LRA 1967
Paragraphs 10 to 12 amend the LRA 1967 to give shared ownership leaseholders lease extension rights. The amendment made by paragraph 12 ensures that shared ownership leaseholders do not need to have a tenancy at a low rent or meet any of the financial criteria in Section 1(1)(a) of the LRA 1967 in order to qualify for the lease extension right.
	Paragraph 13 inserts a new Section 33B into the LRA 1967 which sets out four conditions which, if met, will mean that a shared ownership leaseholder will be excluded from freehold acquisition rights. The conditions relate to the terms of the shared ownership lease, specifically the provision it makes for allowing the leaseholder to staircase to 100% and acquire the freehold.
	Paragraph 14 inserts a new paragraph 12B into Schedule 1 to the LRA 1967 which makes provision about the sharing of future staircasing payments between the shared ownership provider and superior landlords in circumstances where a shared ownership leaseholder’s lease extension is granted by a landlord superior to the shared ownership provider.
	Paragraph 15 inserts a new definition of "shared ownership lease" and related terms into the LRA 1967.