(1)In this Chapter “PPP lease” means any lease—
(a)which constitutes a PPP agreement;
(b)which is entered into in accordance with a PPP agreement; or
(c)which is designated as a PPP lease.
(2)An instrument containing a PPP lease must also contain, or have endorsed upon it, a certificate—
(a)signed by or on behalf of the parties to the lease, and
(b)stating that the instrument contains a PPP lease.
(3)Any designation for the purposes of paragraph (c) of subsection (1) above shall be made by the same person, and in the same manner, as if it were a PPP designation.
(4)No enactment or rule of law regulating the rights and obligations of landlords and tenants shall prejudice the operation of an agreement between a relevant body and a PPP company as to the terms on which land which is the subject of a PPP lease is provided.
(5)Accordingly no such enactment or rule of law applies in relation to the rights and obligations of the parties to a PPP lease—
(a)so as to exclude or modify in any respect any of the rights and obligations of those parties under the terms of the PPP lease, whether with respect to the termination of the tenancy or any other matter;
(b)so as to confer or impose on any party any right or obligation arising out of or connected with anything done or omitted on or in relation to land which is the subject of the PPP lease, in addition to any such right or obligation provided for by the terms of the PPP lease;
(c)so as to restrict the enforcement (whether by action for damages or otherwise) by any party to the PPP lease of any obligation of any other party under the PPP lease.
(6)In this section “lease” includes an underlease and an agreement for a lease or underlease.
(1)The [1925 c. 21.] Land Registration Act 1925 shall be amended in accordance with the following provisions of this section.
(2)In section 3 (interpretation) after paragraph (xviii) there shall be inserted—
“(xviiia)“PPP lease” has the same meaning as in Chapter VII of Part IV of the Greater London Authority Act 1999 (public-private partnership agreements).”
(3)In section 8(2) (restriction on registering leasehold land held under a lease containing a prohibition or restriction on dealings inter vivos) at the beginning there shall be inserted “Leasehold land held under a PPP lease shall not be registered under this Act; and, subject to that,”.
(4)In section 19 (registration of disposition of freeholds) in paragraph (a) of the proviso to subsection (2) (exception for leases not exceeding twenty-one years) after “twenty-one years” there shall be inserted “or of a PPP lease”.
(5)In section 22 (registration of dispositions of leaseholds) in paragraph (a) of the proviso to subsection (2) (exception for underleases not exceeding twenty-one years) after “twenty-one years” there shall be inserted “or of an underlease which is a PPP lease”.
(6)Any interest in land consisting of a PPP lease shall, unless registered or otherwise entered on the register, be an overriding interest for the purposes of the [1925 c. 21.] Land Registration Act 1925; but the registrar shall not be required by virtue of section 70(2) or (3) of that Act to enter any note or notice of any such lease, or of any claim to any such lease, in the register.
(7)Accordingly, in section 70 (overriding interests)—
(a)in subsection (1), after paragraph (k) there shall be inserted the following paragraph—
“(kk)PPP leases;”; and
(b)after subsection (3) there shall be inserted the following subsection—
“(3A)Neither subsection (2) nor subsection (3) of this section shall apply in the case of a PPP lease.”
(8)In section 123 (compulsory registration: dispositions to which requirement to register applies) in subsection (6) (interpretation) the word “and” immediately preceding paragraph (c) shall be omitted and at the end of that paragraph there shall be added “; and
(d)“term of years absolute” does not include a PPP lease”.