2.—(1) Subject to paragraphs (2) and (5) and article 6 (large scale applications), the fee for an application for first registration of an estate in land is payable under the second column of Scale 1 on the value of the estate in land comprised in the application assessed under article 7.
(2) Subject to paragraph (5) and article 6 (large scale applications), the fee for an application by the original lessee or the original lessee’s personal representative for the registration of title to a lease, or for an application for the registration of the grant of a lease, is payable under the second column of Scale 1—
(a)where there is no premium and no rent, on the value of the lease assessed under article 7, subject to a minimum fee of £45,
(b)where there is a premium and no rent, on the premium, or
(c)where there is rent, on an amount equal to the sum of the premium (if any) and the rent.
(3) The fee for an application for the first registration of a rentcharge is £40.
(4) The fee for an application for the first registration of a franchise or a profit is payable under the second column of Scale 1 on the value of the franchise or the profit assessed under article 7.
(5) The fee for a voluntary application which is not a large scale application is payable under the third column of Scale 1 on the value of the estate in land comprised in the application assessed under article 7.
(6) For the purposes of paragraph (2)—
(a)a peppercorn rent or other rent having no money value, and rent that cannot be quantified in money at the date of the application, are to be treated as no rent, and
(b)where the rent reserved by the lease varies or can be varied, it is to be treated as being the largest amount of annual rent the lease may reserve in the first five years of its term, or in any year where the term is less than five years.
(7) In paragraph (2)—
(a)“lease” means—
(i)a term of years absolute, or
(ii)a lease of a franchise, profit or manor if the grant of the lease is a registrable disposition,
(b)“premium” means the amount or value of any monetary consideration given by the lessee as part of the same transaction in which a lease is granted by way of premium or otherwise, but, where a registered leasehold estate of substantially the same land is surrendered on the grant of a new lease, the premium for the new lease shall not include the value of the surrendered lease,
(c)“rent” means the amount or value of the annual rent, or the amount or value of the rent for the term if the lease is for a term of less than one year.