1176. Meanings of 'tenancy' and 'long tenancy' for the purposes of Part I of the Leasehold Reform Act 1967.

'Tenancy' means1 a tenancy at law or in equity, but it does not include a tenancy at will2, nor any interest created by way of security and liable to termination by the exercise of any right of redemption or otherwise, nor any interest created by way of trust under a settlement3.

'Long tenancy' means4 a tenancy granted for a term of years certain exceeding 21 years, whether or not the tenancy 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 otherwise5. It includes both a