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(1)Section 21(2) of the [1957 c. 25.] Rent Act 1957 (which applies Part I of the [1954 c. 56.] Landlord and Tenant Act 1954 to long tenancies not at a low rent) shall cease to have effect; and—
(a)the [1965 c. 75.] Rent Act 1965 shall have effect as if at the end of section 1(2) (which lists the cases in which the Rent Acts are to apply as modified by that Act) there were added— “or
(d)that the tenancy is a long tenancy within the meaning of Part I of the Landlord and Tenant Act 1954”;
(b)Part I of the Landlord and Tenant Act 1954 shall have effect as if—
(i)the references therein to the Rent Acts (as defined in section 22(1)) were references to those Acts as, and only as, they apply by virtue of section 1 of the Rent Act 1965 ; and
(ii)in section 2(5), for paragraphs (a) and (b) (which for purposes of the comparison determining whether a rent is a low rent define " rateable value " by reference to the then Rent Acts) there were substituted the words " for purposes of this subsection the rateable value of the property is that which would for purposes of the Rent Act 1965 be taken as its rateable value on the appropriate day ";
(c)in Part II of the Landlord and Tenant Act 1954, section 43(1)(c) (which excludes from the provision made for business premises by that Part tenancies conferring security of tenure under the Rent Acts) shall cease to apply to long tenancies, and shall accordingly be amended by inserting after the word " where " the words " (the tenancy not being a long tenancy within the meaning of Part I of this Act)", and by omitting the words added by the Rent Act 1957.
(2)Subsection (1) above shall have effect subject to the adaptations of Part I of the Landlord and Tenant Act 1954, and of the [1965 c. 75.] Rent Act 1965 as it applies to a statutory tenancy arising by virtue of the said Part I, which are made by Schedule 5 to this Act; and the transitional and supplementary provisions made by that Schedule shall have effect in relation to subsection (1) above and to statutory tenancies so arising.
(3)Subsection (1)(b)(ii) above shall not affect the construction of the expression " long tenancy at a low rent " in section 53 of the [1964 c. 56.] Housing Act 1964 (where it is defined by reference to section 2(5) of the [1954 c. 56.] Landlord and Tenant Act 1954).
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