Section 115 Meaning of “long tenancy”.

a tenancy granted for a term certain exceeding 21 years, whether or not it is (or may become) terminable before the end of that term by notice given by the tenant or by re-entry or forfeiture;

a tenancy for a term fixed by law under a grant with a covenant or obligation for perpetual renewal, other than a tenancy by sub-demise from one which is not a long tenancy;

any tenancy granted in pursuance of Part V (the right to buy) F1, including any tenancy granted in pursuance of that Part F2... by virtue of section 17 of the Housing Act 1996 (the right to acquire).

it is granted by a housing association which at the time of the grant is F3a private registered provider of social housing or F4a registered social landlord,

it is granted at a premium calculated by reference to a percentage of the value of the dwelling-house or of the cost of providing it, and

at the time it is granted it complies with the requirements of the regulations then in force under section 140(4)(b) of the M1Housing Act 1980 F5or paragraph 4(2)(b) of schedule 4A to the Leasehold Reform Act 1967 (conditions for exclusion of shared ownership leases from Part I of the M2Leasehold Reform Act 1967) or, in the case of a tenancy granted before any such regulations were brought into force, with the first such regulations to be in force.