29. For paragraph 2 of Schedule 1 (tenancies which cannot be assured tenancies) substitute—
“2.—(1) A tenancy—
(a)which is entered into on or after 1st April 1990 (otherwise than, where the dwelling-house had a rateable value on 31st March 1990, in pursuance of a contract made before 1st April 1990), and
(b)under which the rent payable for the time being is payable at a rate exceeding £25,000 a year.
(2) In sub-paragraph (1) “rent” does not include any sum payable by the tenant as is expressed (in whatever terms) to be payable in respect of rates, services, management, repairs, maintenance or insurance, unless it could not have been regarded by the parties to the tenancy as a sum so payable.
2A. A tenancy—
(a)which was entered into before the 1st April 1990, or on or after that date in pursuance of a contract made before that date, and
(b)under which the dwelling-house had a rateable value on the 31st March 1990 which, if it is in Greater London, exceeded £1,500 and, if it is elsewhere, exceeded £750.”.