SCHEDULE 2 Arbitration [or Third Party Determination] of Rent: Provisions Supplementary to Section 12
Agricultural Holdings Act 1986 (1986 c 5) | Legislation

SCHEDULE 2 Arbitration [or Third Party Determination] of Rent: Provisions Supplementary to Section 12

Section 12

Amount of rent

1

(1)     For the purposes of section 12 of this Act, the rent properly payable in respect of a holding shall be the rent at which the holding might reasonably be expected to be let by a prudent and willing landlord to a prudent and willing tenant, taking into account (subject to sub-paragraph (3) and paragraphs 2 and 3 below) all relevant factors, including (in every case) the terms of the tenancy (including those relating to rent), the character and situation of the holding (including the locality in which it is situated), the productive capacity of the holding and its related earning capacity, and the current level of rents for comparable lettings, as determined in accordance with sub-paragraph (3) below.

(2)     In sub-paragraph (1) above, in relation to the holding—

(a)     “productive capacity†means the productive capacity of the holding (taking into account fixed equipment and any other available facilities on the holding) on the assumption that it is in the occupation of a competent tenant practising a system of farming suitable to the holding, and

(b)     “related earning capacityâ€

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