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Housing Associations Act 1985
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4(1)A disposal, whether of the whole or part of the house, is a relevant disposal for the purposes of this Schedule if it is—
(a)a conveyance of the freehold or an assignment of the lease, or
(b)the grant of a lease or sub-lease (other than a mortgage term) for a term of more than 21 years otherwise than at a rack rent.
(2)For the purposes of sub-paragraph (1)(b) it shall be assumed—
(a)that any option to renew or extend a lease or sub-lease, whether or not forming part of a series of options, is exercised, and
(b)that any option to terminate a lease or sub-lease is not exercised.
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