Paragraph 3

At the end of section 149 of that Act (90-year term in place of certain determinable terms) there shall be added—

“(7)

Subsection (8) applies where a lease, underlease or contract—

(a)

relates to commonhold land, and

(b)

would take effect by virtue of subsection (6) as a lease, underlease or contract of the kind mentioned in that subsection.

(8)

The lease, underlease or contract shall be treated as if it purported to be a lease, underlease or contract of the kind referred to in subsection (7)(b) (and sections 17 and 18 of the Commonhold and Leasehold Reform Act 2002 (residential and non-residential leases) shall apply accordingly).”