1211. Loan or deposit in connection with grant or assignment of lease.

Where, under arrangements made in connection with the grant (or with the assignment) of a lease1:

  1.  

    (1)     the lessee (or, as the case may be, the assignee), or any person connected2 with him or acting on his behalf, pays a deposit, or makes a loan, to any person; and

  2.  

    (2)     the repayment of all or part of the deposit or loan is contingent on anything done or omitted to be done by the lessee or on the death of the lessee (or as the case may be, by or on the death of the assignee),