115 Meaning of “long tenancy”.E+W
(1)The following are long tenancies for the purposes of this Part, subject to subsection (2)—
(a)a tenancy granted for a term certain exceeding 21 years, whether or not it is (or may become) terminable before the end of that term by notice given by the tenant or by re-entry or forfeiture;
(b)a tenancy for a term fixed by law under a grant with a covenant or obligation for perpetual renewal, other than a tenancy by sub-demise from one which is not a long tenancy;
(c)any tenancy granted in pursuance of Part V (the right to buy).
(2)A tenancy granted so as to become terminable by notice after a death is not a long tenancy for the purposes of this Part, unless—
(a)it is granted by a housing association which at the time of the grant is registered,
(b)it is granted at a premium calculated by reference to a percentage of the value of the dwelling-house or of the cost of providing it, and
(c)at the time it is granted it complies with the requirements of the regulations then in force under section 140(4)(b) of the M1Housing Act 1980 [F1or paragraph 4(2)(b) of schedule 4A to the Leasehold Reform Act 1967] (conditions for exclusion of shared ownership leases from Part I of the M2Leasehold Reform Act 1967) or, in the case of a tenancy granted before any such regulations were brought into force, with the first such regulations to be in force.
Textual Amendments
F1Words inserted by Housing Act 1988 (c. 50, SIF 61), s. 140(1), Sch. 17 Pt. I para. 40
Marginal Citations