1Extinction of leasehold casualties

(1)In a relevant lease (that is to say, in a lease of land granted before 1st September 1974 for a period of not less than one hundred and seventy-five years), any provision which stipulates for payment of a casualty is void; and, accordingly, any such payment which would, but for this subsection, have fallen due on or after the relevant day shall not be exigible.

(2)In subsection (1) above, any reference to a payment falling due shall be construed, in a case where the provision in the relevant lease stipulates for payment to be deferred until the death of the last person to pay a casualty, as a reference to its falling due on the date of death of that person.

(3)This section shall be deemed to have come into force on the relevant day.