1964_CROWN_LEASES_ORDINANCE — Page 5

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CAP. 40]

Crown Leases

[1986 Ed.

Renewal of Crown leases expiring after commencement of Ordinance.

Person entitled to renew.

Terms of new Crown lease.

Covenants, etc. in the new Crown lease.

5.

(1) Where a renewable Crown lease of a lot expires after the commencement of this Ordinance and the lot has not been divided into sections before the expiration of the lease, the right of renewal contained in the lease shall, if the lease has not been renewed pursuant to the right of renewal contained therein before it expires, be deemed to have been exercised by the person or all the persons, if more than one, entitled to that right immediately before the expira- tion of the lease, and there shall be deemed to be granted to such person or persons on the day following the day on which the lease expired a new Crown lease of the lot.

(2) Where a renewable Crown lease of a lot expires after the commencement of this Ordinance and the lot has been divided into sections before the expiration of the lease, the right of renewal contained in the lease shall, if the lease has not been renewed pursuant to the right of renewal contained therein, before it expires, be deemed to have been exercised by all the persons entitled to that right immediately before the expiration of the lease, and there shall be deemed to be granted to such persons on the day following the day on which the lease expired separate new Crown leases of the sections of the lot respectively held by them under the lease.

6. For the avoidance of doubt, it is hereby declared that a person entitled to a right of renewal contained in a renewable Crown lease referred to in sections 4 and 5 means the person who is registered in the Land Office on the date of expiration of the lease as the owner or one of the owners of the lot to which the lease relates.

7. Every new Crown lease shall be deemed-

(a) to be for the same term as is specified in the proviso for renewal in the renewable Crown lease of the lot or section to which the new Crown lease relates;

(b) to commence immediately on the expiration of the term of the renewable Crown lease of the lot or section to which the new Crown lease relates;

(c) to confer on the persons (if more than one) who were entitled to the right of renewal under the renewable Crown lease the same shares and interests as they respectively enjoyed under the renewable Crown lease immediately before its expiration.

8.

Every new Crown lease shall be deemed to contain-

(a) a reservation of the new Crown rent in respect of the lot or

section to which the new Crown lease relates;

(b) a covenant by the lessee to pay the new Crown rent in the same manner and on the same days as are specified in the renewable Crown lease of the lot or section to which the new Crown lease relates;

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