(1) The court shall not make an order under section 320 vesting property of a leasehold nature in any person, except on terms making that person—
(a) subject to the same liabilities and obligations as the bankrupt was subject to under the lease on the day the [bankruptcy application was made or (as the case may be) the] bankruptcy petition was presented, or
(b) if the court thinks fit, subject to the same liabilities and obligations as that person would be subject to if the lease had been assigned to him on that day.
(2) For the purposes of an
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