§ Amendments made: No. 160, in page 555, line 9, at end insert
',but disregard paragraph 9(2) (deemed reduction of rent for overlap period in case of grant of further lease)'.
§ No. 161, in page 556, line 42, leave out from 'executed,' to end of line 46 and insert—
'(c) on termination of a lease ("the head lease") a subtenant is granted a lease ("the new lease") of the same or substantially the same premises as those comprised in his original lease ("the old lease")—
- (i) in pursuance of an order of a court on a claim for relief against re-entry or forfeiture, or
- (ii) in pursuance of a contractual entitlement arising in the event of the head lease being terminated,
§ or
(d) a person who has guaranteed the obligations of a lessee under a lease that has been terminated ("the old lease") is granted a lease of the same or substantially the same premises ("the new lease") in pursuance of the guarantee.'.
§ No. 162, in page 557, line 33, leave out from beginning to 'The' in line 38 and insert—
§ '11 (1) This paragraph applies where
- the grant of a lease is exempt from charge by virtue of any of the provisions specified in sub-paragraph (3), or
- a lease is granted to a person as bare trustee of the grantor, with the result that the lease is treated as vested in the grantor by virtue of paragraph 3 of Schedule 16.
§ (2) The first assignment of the lease that is not exempt from charge by virtue of any of the provisions specified in subparagraph (3), and in relation to which the assignee does not acquire the lease as a bare trustee of the assignor, is treated for the purposes of this Part as if it were the grant of a lease by the assignor—
- for a term equal to the unexpired term of the lease referred to in sub-paragraph (1), and
- on the same terms as those on which the assignee holds that lease after the assignment.
§ (3)'. No. 163, in page 558, leave out lines 1 to 5.
§ No. 164, in page 558, line 21, after '2(3)' insert 'or 3(2)'.
§ No. 165, in page 562, line 25, at end insert—