These Regulations make provision for and in connection with the determination of the net worth of the landlord group and the landlord’s connection to the developer in relation to relevant works. This is done by making provision for the determination of the value of a qualifying lease, based on the information provided by the leaseholder in their deed of certificate and the uprating multipliers, in order to determine their liability for the remediation of historical safety defects. It also makes provision requiring landlords to give prescribed information on this to the leaseholder.
They also provide for applications to the First-tier Tribunal for a remediation contribution order and to the High Court for an information order in connection with a building liability order, and makes further provision for the application of service charge restrictions to non-residential leases. Finally, it provides definitions for leaseholder owned buildings, associated persons and prescribed persons, and allows for a review of the Regulations within 5 years of the Regulations coming into force and therefore periodically.
