# Leasehold Reform Act 1967, Paragraph 3


(1) The amount of the rent payable under a regulated tenancy arising by virtue of Part I of the Landlord and Tenant Act 1954 shall, subject to the provisions of that Act as to initial repairs and subject to the operation (as regards the fixing of a fair rent and otherwise) of the Rent Act 1977, be such amount as may be agreed between the landlord and the tenant or, in default of agreement, the same amount as the rent last payable under the long tenancy; . . .
(2) Where the rent payable under a statutory tenancy is arrived at in accordance with sub-paragraph (1) above, then the Rent Act 1977 shall apply with the following adaptations:—
(a) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
(b) section 45(2) (under which the rent payable for a statutory period of a tenancy is not to exceed that payable for the last contractual period) shall not apply;
(c) sections 46 to 48 (which provide for variations of rent in respect of changes in the burden on the landlord for rates, provision of services etc.) shall apply only if the rent is one arrived at by agreement, and shall then apply as if references to the last contractual period were references to the first statutory period.

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Source: https://www.legislation.gov.uk/ukpga/1967/88/schedule/5/paragraph/3 (the official version)
Page: https://openlegislation.uk/leasehold-reform-act-1967/schedule-5/paragraph-3
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.