(1)Section 5 of the Housing Act 1988 (c. 50) (security of tenure for assured tenants) is amended as follows.
(2)After subsection (5) (certain obligations etc. of tenant to be unenforceable) insert—
“(5A)Nothing in subsection (5) affects any right of pre-emption—
(a)which is exercisable by the landlord under a tenancy in circumstances where the tenant indicates his intention to dispose of the whole of his interest under the tenancy, and
(b)in pursuance of which the landlord would be required to pay, in respect of the acquisition of that interest, an amount representing its market value.
“Dispose” means dispose by assignment or surrender, and “acquisition” has a corresponding meaning.”
(3)The amendment made by subsection (2) does not apply in relation to any right of pre-emption granted before the day on which this section comes into force.