Citation, commencement and application

1.  (1)  These Regulations may be cited as the Home Loss Payments (Prescribed Amounts) (England) Regulations 2014 and shall come into force on 1st October 2014.

(2) These Regulations shall apply in relation to cases of displacement in England only.

Revision of prescribed amounts for home loss payment

2.  (1)  This regulation applies where the date of displacement is on or after 1st October 2014.

(2) For the purposes of section 30(1) of the Land Compensation Act 1973-

(a)the prescribed maximum amount of home loss payment(2) shall be £49,000; and

(b)the prescribed minimum amount of home loss payment shall be £4,900.

(3) For the purposes of section 30(2) of the Land Compensation Act 1973, the prescribed amount of home loss payment shall be £4,900.

Revocation and savings

3.  (1)  Subject to paragraph (2), the Home Loss Payments (Prescribed Amounts) (England) Regulations 2008(3) are revoked.

(2) The Regulations mentioned in paragraph (1) shall continue to have effect in relation to a displacement occurring before 1st October 2014.

EXPLANATORY NOTE

(This note is not part of the Order)

These Regulations increase the amount of home loss payments payable in England under section 30 of the Land Compensation Act 1973 ("the Act"). A person is entitled to a home loss payment when they are displaced from a dwelling by compulsory purchase or in the other circumstances specified in section 29 of the Act.

Section 30(1) of the Act provides that in cases where a person occupying a dwelling on the date of displacement has an owner's interest, the amount of home loss payment is calculated as a percentage of the market value of the interest, subject to a maximum and minimum amount.

Section 30(2) specifies the amount of the home loss payment in any other case.

Regulation 2(2)(a) of these Regulations increases the maximum amount payable under section 30(1) of the Act from £47,000 to £49,000 and regulation 2(2)(b) increases the minimum amount from £4,700 to £4,900.

Regulation 2(3) increases the home loss payment under section 30(2) of the Act from £4,700 to £4,900.

The revised amounts apply where the displacement occurs on or after 1st October 2014.

Regulation 3 revokes, with savings, the Home Loss Payments (Prescribed Amounts) (England) Regulations 2008.

An impact assessment has not been produced for these Regulations as they put into effect an up-rating in line with house price inflation.