1177. Application of Part I of the Leasehold Reform Act 1967 to certain business tenancies.

References to a long tenancy for the statutory purposes1 do not include a tenancy2 to which Part II of the Landlord and Tenant Act 19543 (business tenancies) applies4 unless:

  1.  

    (1)     it is granted for a term of years certain exceeding 35 years, whether or not it is, or may become, terminable before the end of that term by notice given by or to the tenant or by re-entry, forfeiture or otherwise;

  2.  

    (2)     it is for a term fixed by law under a grant with a covenant or obligation for perpetual renewal, unless it is a tenancy by sub-demise from