(1)Subsection (12) of section eighty-four of the Law of Property Act 1925 (which provides that the procedure under that section for discharging or modifying covenants affecting freeholds shall extend to leaseholds held under a term of more than seventy years of which at least fifty years have expired) shall have effect as if for the word “seventy” there were substituted the word “forty” and for the word “fifty” there were substituted the word “twenty-five”.
(2)This section shall have effect whether the term in question was created before or after the commencement of this Act.