Surrender of existing lease in return for new lease Surrender of existing lease in return for new lease Changes not yet applied. Later legislation changes this provision in ways not yet written into the text below: Sch. 4 para. 16C substituted by Leasehold and Freehold Reform Act 2024 Sch. 9 para. 12(a) 14Paragraph 14 Surrender of existing lease in return for new lease