A tenancy which was entered into before 1st April 1990 or (where the dwelling-house under the tenancy had a rateable value on 31st March 1990) is entered into on or after 1st April 1990 in pursuance of a contract made before that date is not a protected tenancy if under the tenancy either no rent is payable or, . . . the rent payable is less then two-thirds of the rateable value which is or was the rateable value of the dwelling-house on the appropriate day.
Where—
subsection (1) above shall apply in relation to the dwelling-house as if the reference to the appropriate day were a reference to 22nd March 1973.
A tenancy is not a protected tenancy if—
Subsection (7) of section 4 above shall apply to any amount referred to in subsection (2A) above as it applies to the amount referred to in subsection (4) of that section.
In this Act a tenancy falling within subsection (1) above is referred to as a "tenancy at a low rent".
In determining whether a long tenancy is a tenancy at a low rent, there shall be disregarded such part (if any) of the sums payable by the tenant as is expressed (in whatever terms) to be payable in respect of rates, council tax,services, repairs, maintenance, or insurance, unless it could not have been regarded by the parties as a part so payable.
In subsection (4) above "long tenancy" means a tenancy granted for a term certain exceeding 21 years, other than a tenancy which is, or may become, terminable before the end of that term by notice given to the tenant.