Long Leases (Scotland) Act 2012 (asp 9)

Part 3 S Allocation of rents and renewal premiums etc.

Key terms S

37 Partially continuing leases and renewal obligations etc. S

In this Act—

• “partially continuing lease” means a lease which, on the appointed day—

  (a)

  is extinguished by virtue of Part 1, in respect of part of the subjects of the lease (such subjects being referred to in this Act as the “converted subjects”), and

  (b)

  whether by exemption under Part 5 or otherwise, continues in respect of any other subjects (such subjects being referred to in this Act as the “continuing subjects”),

• “renewal obligation” means an obligation on the landlord under a lease to renew it after a fixed period on payment by the tenant of a premium,

• “renewal period” means, in relation to a renewal obligation, the fixed period after which the landlord must renew the lease,

• “renewal premium” means, in relation to a renewal obligation, the premium payable.

Commencement Information

I1 S. 37 in force at 21.2.2014 by S.S.I. 2013/322, art. 3(c)