(1)This section applies for the purposes of section 1(4)(a) in determining the annual rent payable under a lease.
(2)Subject to subsections (4) to (6), the rent payable under a lease is the rent as set out in a document mentioned in subsection (3).
(3)The documents are—
(a)the lease,
(b)a registered assignation of the lease, or
(c)a registered minute of variation or agreement in relation to the lease.
(4)Where a cumulo rent is payable in relation to two or more leases, the annual rent payable under each lease is deemed to be nil.
(5)Any rent payable under a lease which is expressed wholly or partly in non-monetary terms is, to the extent that it is so expressed, to be left out of account.
(6)Any rent payable under a lease which is variable from year to year is, to the extent that it is so variable, to be left out of account.
Commencement Information
I1S. 2 in force at 28.11.2013 by S.S.I. 2013/322, art. 2(a)