Moved by
Baroness Pinnock
63: After Clause 50, insert the following new Clause—
“Report: restrictions around ground rent investments
(1) Within six months of the day on which this Act is passed the Secretary of State must lay before Parliament a report outlining the impact of this Act on ground rent investments.
(2) The report in subsection (1) must also make an assessment of the impact of—
(a) prohibiting future ground rent investments, and
(b) encouraging divestment from existing ground rent investments
on leaseholders and freeholders.
(3) In this section “ground rent investment” means investment by a pension fund or other type of fund in leaseholds for the purpose of collecting ground rent.”
Member’s explanatory statement
This is a probing amendment that would require the Government report on the impact of this Act on ground rent investments, and the impact of prohibiting future ground rent investments and encouraging divestment from existing ground rent investments on leaseholders and freeholders.