633. Agreements that are not qualifying long term agreements.

An agreement is not a qualifying long term agreement1:

  1.  

    (1)     if it is a contract of employment2; or

  2.  

    (2)     if it is a management agreement3, made by a local housing authority4 and either a tenant management organisation5, or an arm's length management organisation6;

  3.  

    (3)     if the parties to the agreement are a holding company and one or more of its subsidiaries7, or two or more subsidiaries of the same holding company8;

  4.  

    (4)     if:

    1.  

      (a)     when the agreement is entered into, there are no tenants9 of the building or other premises to which the agreement relates10; and

    2.  

      (b)     the agreement