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Loophole in the BSA closed by the Levelling Up & Regeneration Act 2023

Article contributed by Tanfield Chamber   The Levelling Up and Regeneration Act 2023 received the Royal Assent on 26th October 2023. The government has finally closed the loophole in the Building Safety Act discussed by Mark Loveday at the ALEP conference.    Although rather clunky, a new section 119A introduces the wonderful concept of a “connected replacement lease”, which in 95% of cases simply means a lease extension under the Leasehold Reform Housing and Urban Development Act 1993: see s.119A(3)(b)(iii).    The…

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