9E+WWhere—
(a)the new lease is [F1subject to a trust of land], and
(b)compensation is paid by the landlord on the termination of the new lease (whether the payment is made in pursuance of an order for possession or in pursuance of an agreement made in conformity with paragraph 5 above without an application having been made under section 61),
the sum received shall be dealt with as if it were proceeds of sale arising under the trust.
Textual Amendments
F1Words in Sch. 14 para. 9(a) substituted (1.1.1997) by 1996 c. 47, s. 25(1), Sch. 3 para. 27(3)(b) (with ss. 24(2), 25(4)(5)); S.I. 1996/2974, art.2