(1)The landlord and the statutory tenant may by agreement fix the rent payable under a statutory tenancy (or may agree that no rent shall be payable under the statutory tenancy).
(2)An agreement under this section may be made at any time, including a time before the beginning of the statutory tenancy, or a time when a rent is registered for the dwelling-house.
(3)The rent so fixed shall not exceed—
(a)where a rent is registered for the dwelling-house at the time when the agreement is made, the weekly or other periodical equivalent of the amount of the rent so registered,
(b)where a rent is not so registered, the amount of the rent based on rateable value defined in the next following section.
(4)Where a rent is registered for the dwelling-house at any time after the agreement is made, as from the date from which the registration takes effect the rent payable under the agreement shall not exceed the weekly or other periodical equivalent of the amount of the rent so registered.
(5)If the rent payable under the agreement exceeds the limit imposed by subsection (3) or (4) above, the amount of the excess shall be irrecoverable from the tenant.
(6)Unless the contrary intention appears from the agreement, it shall be terminable by the landlord or the tenant by notice in writing served on the other.
(7)The notice shall specify the date from which the agreement is terminated, which shall be not earlier than four weeks after service of the notice.
(8)Subject to subsection (3) above, an agreement made under this section may from time to time be varied by a further agreement so made, whether or not there has been a change in the persons who are landlord and tenant.
(9)If and so long as, in the period following the termination of an agreement under this section, no notice of increase under section 12 or section 14 of this Act takes effect (and no subsequent agreement is in force), the rent payable under the statutory tenancy shall be the same as the rent payable, or last payable, under the agreement, and it shall be payable for equivalent rental periods, and in other respects in the same way as, the rent was payable, or last payable, under the agreement.
(10)Where a rent is registered for the dwelling-house at any time after the termination of the agreement, as from the date from which the registration takes effect the rent payable under subsection (9) above shall not exceed the weekly or other periodical equivalent of the amount of the rent so registered; and if the rent so payable exceeds the limit imposed by the foregoing provision of this subsection, the amount of the excess shall be irrecoverable from the tenant.
(11)If the agreement mentioned in subsection (9) above provided that no rent was payable under the statutory tenancy, no rent shall be payable in the period for which that subsection applies.