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33. For paragraph 2(4) of that Schedule substitute—
“(4) A tenancy is “at a low rent” if under the tenancy—
(a)no rent is payable,
(b)where the tenancy is entered into on or after 1st April 1990 (otherwise than, where the dwelling-house had a rateable value on 31st March 1990, in pursuance of a contract made before 1st April 1990), the maximum rent payable at any time is payable at a rate of—
(i)£1,000 or less a year if the dwelling-house is in Greater London and,
(ii)£250 or less a year if the dwelling-house is elsewhere, or,
(c)where the tenancy was entered into before 1st April 1990 or (where the dwelling-house had a rateable value on 31st March 1990) is entered into on or after 1st April 1990 in pursuance of a contract made before that date, and the maximum rent payable at any time under the tenancy is less than two-thirds of the rateable value of the dwelling-house on 31st March 1990.”.
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