SCHEDULE 19Leases
PART 6Other provision about leases
Treatment of successive linked leases
I1 23
1
This paragraph applies where—
a
successive leases are granted or treated as granted (whether at the same time or at different times) of the same or substantially the same premises, and
b
those grants are linked transactions.
2
This Act applies as if the series of leases were 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.
3
The grant of later leases in the series is accordingly disregarded for the purposes of this Act except section 34 (return or further return in consequence of later linked transaction).