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(1)A farm business tenancy for a term of more than two years shall, instead of terminating on the term date, continue (as from that date) as a tenancy from year to year, but otherwise on the terms of the original tenancy so far as applicable, unless at least twelve months but less than twenty-four months before the term date a written notice has been given by either party to the other of his intention to terminate the tenancy.
(2)In subsection (1) above “the term date”, in relation to a fixed term tenancy, means the date fixed for the expiry of the term.
(3)For the purposes of section 140 of the [1925 c. 20.] Law of Property Act 1925 (apportionment of conditions on severance of reversion), a notice under subsection (1) above shall be taken to be a notice to quit.
(4)This section has effect notwithstanding any agreement to the contrary.
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