Regulation 32 Consecutive leases of land for total term not exceeding ten yearsI1

the authority had an earlier leasehold interest (“the preceding interest”) in the land, and become the lessees upon the expiry of the preceding interest;

the preceding interest was a lease of which the initial cost was nil by virtue of regulation 29 or regulation 7(3) of the 1990 Regulations^f1;

the new lease is for a term which, added to the term of the preceding interest, produces a combined term of not more than ten years; and

but for the preceding interest, the initial cost of the new lease would be nil by virtue of regulation 31.