RETAIL AND COMMERCIAL LEASES ACT 1995 - SECT 81

RETAIL AND COMMERCIAL LEASES ACT 1995 - SECT 81

81—Amendment of the Landlord and Tenant Act

        (1)         Part 4 of the Landlord and Tenant Act 1936 (the "former legislation") is repealed.

        (2)         However—

            (a)         the former legislation continues to apply, subject to modifications prescribed by regulation, to retail shop leases entered into before the commencement of this Act (including such a lease that is renewed after the commencement of this Act under a right or option of renewal conferred before the commencement of this Act); but

            (b)         if the retail shop lease creates a periodic tenancy, this Act applies to the lease as from the beginning of the first period after the first anniversary of the commencement of this Act as if there were a novation of the lease on that date.

        (3)         The regulations made for the purposes of subsection (2)(a) may provide that specified provisions of this Act apply to a retail shop lease entered into before the commencement of this Act.

        (4)         The Fund established under the former legislation is dissolved and the money constituting that Fund at the commencement of this Act is incorporated in the Fund established under this Act.

        (5)         References in the former legislation to the Fund established under that legislation are to be construed (so far as the relevant provisions give rights or impose obligations on parties to leases) as references to the Fund under this Act.