1173. Value limits where tenancy entered into on or after 1 April 1990.

If the tenancy1 is a long tenancy2 at a low rent3 and is entered into on or after 1 April 1990, otherwise than, where the house4 and premises5 had a rateable value6 at the commencement of the tenancy or else at any time before 1 April 1990, in pursuance of a contract made before that date, the tenancy is one to which the right to acquire an extended lease