(1)A lease to which section 13 applies is not as a result of any right to acquire—
(a)registrable under the Land Charges Act 1972, or
(b)to be taken to be an estate contract within the meaning of that Act.
(2)An agreement relating to a long residential lease of a house (whether or not contained in the instrument creating the lease or made before the grant of the lease) is of no effect to the extent that it makes provision—
(a)excluding or modifying the right to acquire, or
(b)providing for the surrender or termination of the lease, or for the imposition of any penalty, in the event of the rights holder taking steps to exercise the right to acquire.
(3)Subsection (2) does not prevent a tenant under a long residential lease of a house from—
(a)surrendering the lease,
(b)terminating the lease, or
(c)entering into an agreement to acquire the freehold estate in the land comprised in the lease, or any superior leasehold estate or estates in that land, other than by way of exercising the right to acquire.
(4)The right to acquire in relation to a long residential lease of a house is not capable of subsisting apart from the lease.
(5)In this section, “rights holder” has the meaning given by section 13.