SCHEDULE 6LEASES
PART 2DURATION OF LEASE AND TREATMENT OF OVERLAPPING LEASES
Successive linked leases
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1
For the purposes of this Act a series of linked leases are treated as a single lease—
a
granted at the time of the grant of the first lease in the series,
b
for a term equal to the aggregate of the terms of all the leases, and
c
in consideration of the rent payable under all of the leases.
2
Two or more leases constitute ““a series of linked leases”” if they—
a
are successive leases granted or treated as granted (whether at the same time or at different times) of the same or substantially the same premises, and
b
are linked transactions.
3
The grant of later leases in the series is accordingly disregarded for the purposes of this Act except section 51 (return or further return in consequence of later linked transaction).