1223. Price payable on enfranchisement of house where lease has been extended.

Where, in a case in which the price payable for a house1 and premises2 is to be determined in accordance with the statutory provisions applying to houses within the higher range of rateable values3, and the tenancy4 has been extended under Part I of the Leasehold Reform Act 19675, then:

  1.  

    (1)     if the relevant time6 is on or before the original term date, the statutory assumptions7 apply as if the tenancy is to terminate on the original term date; and

  2.  

    (2)     if the relevant time is after the original term date, certain of the statutory assumptions8 apply as if