keep The Housing (Change of Landlord) (Payment of Disposal Cost by Instalments) (Amendment) Regulations 1998
Amends the Housing (Change of Landlord) (Payment of Disposal Cost by Instalments) Regulations 1990 by substituting an interest rate of 8.17% for 7.78% in the calculation of disposal cost installments. Revokes the 1997 Amendment (No. 3) Regulations. Applies only to periods from 6th March 1998 onwards.
This is a minor technical amendment updating an interest rate to reflect current market conditions. Without this update, the outdated 7.78% rate would apply to social housing disposals, creating inaccurate financial calculations that could disadvantage either housing authorities or tenants. The regulation imposes no restrictive burden—it merely ensures correct pricing in housing transfer transactions. Deleting it would revert to an incorrect rate and create administrative confusion.