Detail of outcome
This consultation has concluded and a new calculation formula was put in place for the redemption of rent charges. See the complete statutory instrument.
The Consolidated Stock named in the formula for calculating rentcharges and the value of minor superior tenancies and leasehold interests (for the purposes of lease renewals and enfranchisement) is no longer in use, so we need to put a workable formula in place
This paper seeks views on 3 issues:
a replacement rate or instrument for the 2½% Consolidated Stock, to be used in the calculation formula for rentcharge redemptions
calculating minor superior leasehold interests for enfranchisement and minor intermediate leasehold interests for lease renewals and enfranchisement
the future role of the Secretary of State in the process of redeeming rentcharges