333. New tenancies.

A new tenancy is one which is granted on or after 1 January 1996, except those tenancies granted pursuant to:

  1.  

    (1)     an agreement made before 1 January 1996;

  2.  

    (2)     a court order made before 1 January 1996; or

  3.  

    (3)     an option granted before 1 January 19961.

An overriding lease2 granted under the Landlord and Tenant (Covenants) Act 19953 (for example granted to a former tenant who has discharged the liability of a subsequent assignee) takes its status from that of the original lease. Some leases granted on or after 1 January 1996 will not be new tenancies. Such a lease