Rentcharges
29.—(1) Subject to paragraph (3), on and after the appointed day a rentcharge is incapable of being created at law or in equity.
(2) Any agreement made on or after the appointed day, and any instrument made on or after that day, is void to the extent that it provides for the creation of, or purports to create, a rentcharge the creation of which is prohibited by this Article.
(3) This Article does not prohibit the creation of a rentcharge—
(a)in pursuance of an obligation assumed before the appointed day;
(b)as an annuity;
(c)which is payable under an agreement of indemnity to the owner of a legal estate in land contingently upon his being made to pay the whole or part of a rent in respect of all or part of that land or in respect of a larger area of land of which that land forms or formed part;
(d)under any statutory provision;
(e)by, or in accordance with the requirements of, any order of a court.