27(1)Notwithstanding the repeal by this Act of the Rent Act 1968 and section 42 of the M1Housing Finance Act 1972—E+W
(a)sections 20(3) and 21 of the M2Rent Act 1968 (rent limit where no registered rent) shall continue to apply in relation to a regulated tenancy granted before 1st January 1973 if the rent under the tenancy, as varied by any agreement made before that date, exceeded the rent limit under section 20(3) (with any adjustment under section 21);
(b)sections 30 (certain regulated tenancies to be disregarded in determining contractual rent limit) and 35 (duty of landlord to supply statement of rent under previous tenancy) of the M3Rent Act 1968 shall continue to apply in any case where section 20(3)(a) applies by virtue of this paragraph.
(2)In any case to which section 21 of the M4Rent Act 1968 applies by virtue of sub-paragraph (1) above, the reference in subsection (5) of that section to the amount expended on the improvement shall be construed as a reference to that amount diminished by the amount of any grant or repayment of the kind mentioned in section 48(2)(a) or (b) of this Act.
(3)This paragraph shall cease to apply if the landlord and the tenant enter into an agreement which is a rent agreement with a tenant having security of tenure (within the meaning of section 51 of this Act) which complies with the requirements of subsection (4) of that section, or if they provide that this paragraph is not to apply by an agreement conforming with those requirements.