723. Statutory period where rent is registered.

Where a rent for a dwelling house is registered1, the following provisions apply with respect to the rent for any statutory period2 of a regulated tenancy3 of the dwelling house4. If the rent payable5 for any statutory period exceeds the amount registered, the amount of the excess is, notwithstanding anything in any agreement, irrecoverable from the tenant6. However, if the rent payable7 for any statutory period would be less than the rent so registered, it may be increased up to the amount of that registered rent by a notice of increase