203 Repayment of discount: periods and amounts payable
Housing Act 2004 (2004 c 34) | Legislation

Disposals by housing action trusts

203  Repayment of discount: periods and amounts payable

(1)     Schedule 11 to the Housing Act 1988 (c 50) (provisions applicable to certain disposals of houses) is amended as follows.

(2)     In paragraph 1(2) for the words from “to pay to the housing action trust” to the end of the sub-paragraph substitute “to the following effect.”

(3)     After paragraph 1(2) insert—

“(3)     The covenant shall be to pay to the housing action trust such sum (if any) as the trust may demand in accordance with sub-paragraph (4) on the occasion of the first relevant disposal (other than an exempted disposal) which takes place within the period of five years beginning with the conveyance, grant or assignment.

(4)     The trust may demand such sum as it considers appropriate, up to and including the maximum amount specified in this paragraph.

(5)     The maximum amount which may be

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