A tenancy1 is not a protected tenancy2 if it is a qualifying shared ownership lease, that is a lease3:
(1) granted in pursuance of the former right to be granted a shared ownership lease under the Housing Act 19854; or
(2) a lease granted by a housing association5 and which complies with the statutory conditions6.
The statutory conditions are that the lease:
(a) was granted for a term of 99 years or more and is not, and cannot become, terminable except in pursuance of a provision for re-entry or forfeiture;
(b) was granted at a premium, calculated by reference to
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