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Summary

This paper details the intentions of Communities and Local Government in respect of the amendments that we consider to be necessary in respect of the provisions in section 152 of the Commonhold and Leasehold Reform Act 2002 (the 2002 Act) that would require landlords to provide leaseholders with a regular statement of account, an accountants certificate and a summary of rights and obligations.

This paper also details our intentions in respect of amendments that we believe are necessary in respect of the provisions in section156 of the 2002 Act which requires payees to hold service charges in a designated client account.

The Government would welcome any comments on the paper, including the Impact Assessments. We would particularly welcome estimates of the cost of compliance with the revised proposals. It should be noted that there can be no extension given to this deadline.

Comments should be sent by 4 October 2007 to:

Renu Basra
Communities and Local Government
Leasehold and Park Homes Branch
Zone 2/H10 Eland House
Bressenden Place
London SW1E 5DU
Tel: 020 7944 4287

E-mail responses are welcome to: leasehold.reform@communities.gov.uk.

If you are replying by e-mail please include the words Consultation - Regular statement of Account in the subject or title.

This consultation paper contains proposals for amendments to primary legislation and for the secondary legislation. Whilst any amendments to primary legislation will apply to both England and Wales, the Welsh Assembly Government will make its own regulations.

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