Paragraph 4

(1)

Part II of Schedule 18 to the 1977 Act applies to a tenancy which becomes a regulated tenancy by virtue of section 73 of this Act (unless it is a tenancy falling within sub-paragraph (2) below).

(2)

Nothing in Part IX of the 1977 Act applies to the assignment, before the end of the year 1990, of a tenancy which falls within this sub-paragraph; and a tenancy falls within this sub-paragraph if it was granted for a term certain and its terms do not inhibit both the assignment and the underletting of the whole of the premises comprised in the tenancy, and either—

(a)

it was granted before the commencement of section 73 of this Act and became a regulated tenancy by virtue of that section; or

(b)

it is a regulated tenancy by virtue of that section and was granted to a person who, at the time of the grant, was the tenant of the premises comprised in it under a regulated tenancy which also fell within this sub-paragraph.

(3)

For the purposes of sub-paragraph (2) above the terms of a tenancy inhibit an assignment or underletting if they—

(a)

preclude it; or

(b)

permit it subject to a consent but exclude section 144 of the M1Law of Property Act 1925 (no payment in nature of fine); or

(c)

permit it subject to a consent but require in connection with a request for consent the making of an offer to surrender the tenancy.

Annotations

Marginal citations

M1: 1925 c. 20(98:1).