Where a rent for a dwelling-house is registered under Part IV of this Act, the rent recoverable for any contractual period of a regulated tenancy of the dwelling-house shall be limited to the rent so registered.

This subsection is subject to the following provisions of this Act: subsection (4) below, F1section 71(3), paragraph 1(3) of Schedule 7, . . . F2 and paragraph 3 of Schedule 20.

Where a limit is imposed by subsection (1) above on the rent recoverable in relation to any contractual period of a regulated tenancy, the amount by which the rent payable under the tenancy exceeds that limit shall, notwithstanding anything in any agreement, be irrecoverable from the tenant.

In this Part of this Act “contractual rent limit” means the limit specified in subsection (1) above.

Schedule 7 to this Act shall have effect for the purpose of providing a special rent limit in relation to certain tenancies which became regulated tenancies by virtue of section 14 of the M1Counter-Inflation Act 1973.