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(1)If an applicant for an improvement grant or a standard grant as respects a single dwelling is, at the time when the application is made, occupying the dwelling and has an interest in the dwelling which constitutes a long tenancy at a low rent—
(a)section 31(3) of the Act of 1958 (which as amended by section 10 of the Act of 1959 prevents the making of improvement grants to a leaseholder if his unexpired term is less than fifteen years), and
(b)section 5(3) of the Act of 1959 (which contains a corresponding provision for standard grants),
shall apply in relation to that interest as if for the words " fifteen years " there were substituted the words " five years ".
(2)This section shall not apply in relation to applications made before the coming into force of this section.
(3)In this section " long tenancy " and " tenancy at a low rent" have the meanings given by subsections (4) and (5) of section 2 of the Landlord and Tenant Act 1954.
(4)This section shall not apply to Scotland.
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