Commencement Information
I1Sch. 2 wholly in force at 1.11.1993 see s. 188(2) and S.I. 1993/2134, art. 5
Textual Amendments
F1Words in the heading immediately preceding paragraph 5 of Sch. 2 substituted (1.1.1997) by 1996 c. 47, s. 25(1), Sch. 3 para. 27(2)(a) (with ss. 24(2), 25(4)); S.I. 1996/2974, art.2
5(1)Where the interest of a Chapter I landlord is [F2subject to a trust of land], any sum payable to the landlord by way of the price payable for the interest on its acquisition in pursuance of Chapter I shall be dealt with as if it were proceeds of sale arising under the trust.E+W
(2)Where the interest of a Chapter II landlord is [F2subject to a trust of land]—
(a)any sum payable to the landlord by way of a premium on the grant of a new lease under Chapter II or section 93(4) shall be dealt with as if it were proceeds of sale arising under the trust; F3. . .
F3(b). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Textual Amendments
F2Words in Sch. 2 para. 5(1)(2) substituted (1.1.1997) by 1996 c. 47, s. 25(1), Sch. 3 para. 27(2)(a) (with ss. 24(2), 25(4)); S.I. 1996/2974, art.2
F3Sch. 2 para. 5(2)(b) and the word "and" immediately preceding it repealed (1.1.1997) by 1996 c. 47, s. 25(2), Sch.4 (with ss. 24(2), 25(4)); S.I. 1996/2974, art.2