Section 2 Further provision about annual rentI1

This section applies for the purposes of section 1(4)(a) in determining the annual rent payable under a lease.

Subject to subsections (4) to (6), the rent payable under a lease is the rent as set out in a document mentioned in subsection (3).

The documents are—

Where a cumulo rent is payable in relation to two or more leases, the annual rent payable under each lease is deemed to be nil.

Any rent payable under a lease which is expressed wholly or partly in non-monetary terms is, to the extent that it is so expressed, to be left out of account.

Any rent payable under a lease which is variable from year to year is, to the extent that it is so variable, to be left out of account.