Exempt leases
62Exempt leases
(1)If, immediately before the appointed day, land is subject to an exempt lease—
(a)that lease does not become the right of ownership of the land,
(b)any right of ownership of that land existing immediately before the appointed day and any superior lease is not extinguished, and
(c)the provisions of this Act, in so far as they relate to—
(i)the conversion of a qualifying lease into the right of ownership, or
(ii)the extinction of a right of ownership or (as the case may be) lease,
do not apply.
(2)In this Part, “exempt lease” is to be construed in accordance with sections 63 to 66.