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(1)Subject to subsections (2) and (3) below, the terms of the tenancy to which a direction under section 53(7) above entitles the nominated successor shall be the same as the terms on which the holding was let immediately before it ceased to be let under the contract of tenancy under which it was let at the date of the giving of the retirement notice.
(2)If the terms of the tenancy to which the nominated successor is entitled as mentioned in subsection (1) above would not, apart from this subsection, include a covenant by the tenant not to assign, sub-let or part with possession of the holding or any part of it without the landlord's consent in writing, subsection (1) above shall have effect as if those terms included that covenant.
(3)Where the Tribunal give a direction under section 53(7) above, subsections (3) to (12) of section 48 above shall have effect in relation to the tenancy which the nominated successor is entitled to or has obtained by virtue of the direction, but with the substitution—
(a)in subsection (8) (a) of a reference to the tenancy of the retiring tenant or (as the case may be) tenants for the reference to the deceased's tenancy,
(b)in subsection (11) of a reference to subsection (1) above for the reference to section 47(1).
(4)In those provisions, as extended by subsection (3) above—
" the landlord " means the landlord of the holding;
" the prescribed period" means the period between the giving of the direction and—
the end of the three months immediately following the relevant time, or
the end of the three months immediately following the date of the giving of the direction,
whichever last occurs;
" the relevant time " has the meaning given by section 55(8) above;
" the tenant" means the nominated successor.
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