sec.164When lessor may refuse to renew, or extend term of, or sell reversion of, lease

### sec.164 When lessor may refuse to renew, or extend term of, or sell reversion of, lease This section applies to a lease of land if— the lessor has agreed in writing with the lessee that at or before the end of the term of the lease, the lessee has an option— to renew, or extend the term of, the lease in relation to all or part of the land; or to purchase the reversion of the lease; and the exercise of the option is conditional on 1 or more of the following matters— the fulfilment by the lessee of a condition precedent to the exercise of the option; the performance by the lessee of the terms of the lease; the lessee giving a notice exercising the option (an option notice ); and 1 or more of the following apply (each a breach )— for paragraph (b) (i) —the lessee has not fulfilled the condition precedent; for paragraph (b) (ii) —the lessee has not performed the terms of the lease; for paragraph (b) (iii) —the lessee has not complied with a formal requirement in relation to the giving of the option notice. The lessor may refuse to renew, or extend the term of, or sell the reversion of, the lease, only if— the lessor gives the lessee a notice in the approved form (a breach notice ) stating the following matters— that the lessor intends to refuse to renew, or extend the term of, or sell the reversion of, the lease, because of 1 or more breaches; the details of the breach or breaches; that the lessee or a designated person for the lease may apply to the court for relief against the refusal; that an application to the court for relief against the refusal must be made within 1 month after the lessee receives the breach notice; that the lessee should seek independent legal advice about the refusal and its implications; and the lessee or a designated person for the lease does not apply to the court under section 166 within 1 month after the lessor gives the lessee the breach notice. The lessor must give the lessee the breach notice— within 10 business days after the giving of the option notice, if the breach relied on in the breach notice happened on or before the giving of the option notice; or within 10 business days after the breach relied on in the breach notice, if the breach happened after the giving of the option notice. In this section— formal requirement , in relation to the giving of an option notice— means a requirement under the lease about— the form of the notice; or the way in which the notice is to be given; or the person to whom the notice is to be given; and does not include a requirement under the lease about the period within which the notice is to be given. (sec.164-ssec.1) This section applies to a lease of land if— the lessor has agreed in writing with the lessee that at or before the end of the term of the lease, the lessee has an option— to renew, or extend the term of, the lease in relation to all or part of the land; or to purchase the reversion of the lease; and the exercise of the option is conditional on 1 or more of the following matters— the fulfilment by the lessee of a condition precedent to the exercise of the option; the performance by the lessee of the terms of the lease; the lessee giving a notice exercising the option (an option notice ); and 1 or more of the following apply (each a breach )— for paragraph (b) (i) —the lessee has not fulfilled the condition precedent; for paragraph (b) (ii) —the lessee has not performed the terms of the lease; for paragraph (b) (iii) —the lessee has not complied with a formal requirement in relation to the giving of the option notice. (sec.164-ssec.2) The lessor may refuse to renew, or extend the term of, or sell the reversion of, the lease, only if— the lessor gives the lessee a notice in the approved form (a breach notice ) stating the following matters— that the lessor intends to refuse to renew, or extend the term of, or sell the reversion of, the lease, because of 1 or more breaches; the details of the breach or breaches; that the lessee or a designated person for the lease may apply to the court for relief against the refusal; that an application to the court for relief against the refusal must be made within 1 month after the lessee receives the breach notice; that the lessee should seek independent legal advice about the refusal and its implications; and the lessee or a designated person for the lease does not apply to the court under section 166 within 1 month after the lessor gives the lessee the breach notice. (sec.164-ssec.3) The lessor must give the lessee the breach notice— within 10 business days after the giving of the option notice, if the breach relied on in the breach notice happened on or before the giving of the option notice; or within 10 business days after the breach relied on in the breach notice, if the breach happened after the giving of the option notice. (sec.164-ssec.4) In this section— formal requirement , in relation to the giving of an option notice— means a requirement under the lease about— the form of the notice; or the way in which the notice is to be given; or the person to whom the notice is to be given; and does not include a requirement under the lease about the period within which the notice is to be given. - (a) the lessor has agreed in writing with the lessee that at or before the end of the term of the lease, the lessee has an option— (i) to renew, or extend the term of, the lease in relation to all or part of the land; or (ii) to purchase the reversion of the lease; and - (i) to renew, or extend the term of, the lease in relation to all or part of the land; or - (ii) to purchase the reversion of the lease; and - (b) the exercise of the option is conditional on 1 or more of the following matters— (i) the fulfilment by the lessee of a condition precedent to the exercise of the option; (ii) the performance by the lessee of the terms of the lease; (iii) the lessee giving a notice exercising the option (an option notice ); and - (i) the fulfilment by the lessee of a condition precedent to the exercise of the option; - (ii) the performance by the lessee of the terms of the lease; - (iii) the lessee giving a notice exercising the option (an option notice ); and - (c) 1 or more of the following apply (each a breach )— (i) for paragraph (b) (i) —the lessee has not fulfilled the condition precedent; (ii) for paragraph (b) (ii) —the lessee has not performed the terms of the lease; (iii) for paragraph (b) (iii) —the lessee has not complied with a formal requirement in relation to the giving of the option notice. - (i) for paragraph (b) (i) —the lessee has not fulfilled the condition precedent; - (ii) for paragraph (b) (ii) —the lessee has not performed the terms of the lease; - (iii) for paragraph (b) (iii) —the lessee has not complied with a formal requirement in relation to the giving of the option notice. - (i) to renew, or extend the term of, the lease in relation to all or part of the land; or - (ii) to purchase the reversion of the lease; and - (i) the fulfilment by the lessee of a condition precedent to the exercise of the option; - (ii) the performance by the lessee of the terms of the lease; - (iii) the lessee giving a notice exercising the option (an option notice ); and - (i) for paragraph (b) (i) —the lessee has not fulfilled the condition precedent; - (ii) for paragraph (b) (ii) —the lessee has not performed the terms of the lease; - (iii) for paragraph (b) (iii) —the lessee has not complied with a formal requirement in relation to the giving of the option notice. - (a) the lessor gives the lessee a notice in the approved form (a breach notice ) stating the following matters— (i) that the lessor intends to refuse to renew, or extend the term of, or sell the reversion of, the lease, because of 1 or more breaches; (ii) the details of the breach or breaches; (iii) that the lessee or a designated person for the lease may apply to the court for relief against the refusal; (iv) that an application to the court for relief against the refusal must be made within 1 month after the lessee receives the breach notice; (v) that the lessee should seek independent legal advice about the refusal and its implications; and - (i) that the lessor intends to refuse to renew, or extend the term of, or sell the reversion of, the lease, because of 1 or more breaches; - (ii) the details of the breach or breaches; - (iii) that the lessee or a designated person for the lease may apply to the court for relief against the refusal; - (iv) that an application to the court for relief against the refusal must be made within 1 month after the lessee receives the breach notice; - (v) that the lessee should seek independent legal advice about the refusal and its implications; and - (b) the lessee or a designated person for the lease does not apply to the court under section 166 within 1 month after the lessor gives the lessee the breach notice. - (i) that the lessor intends to refuse to renew, or extend the term of, or sell the reversion of, the lease, because of 1 or more breaches; - (ii) the details of the breach or breaches; - (iii) that the lessee or a designated person for the lease may apply to the court for relief against the refusal; - (iv) that an application to the court for relief against the refusal must be made within 1 month after the lessee receives the breach notice; - (v) that the lessee should seek independent legal advice about the refusal and its implications; and - (a) within 10 business days after the giving of the option notice, if the breach relied on in the breach notice happened on or before the giving of the option notice; or - (b) within 10 business days after the breach relied on in the breach notice, if the breach happened after the giving of the option notice. - (a) means a requirement under the lease about— (i) the form of the notice; or (ii) the way in which the notice is to be given; or (iii) the person to whom the notice is to be given; and - (i) the form of the notice; or - (ii) the way in which the notice is to be given; or - (iii) the person to whom the notice is to be given; and - (b) does not include a requirement under the lease about the period within which the notice is to be given. - (i) the form of the notice; or - (ii) the way in which the notice is to be given; or - (iii) the person to whom the notice is to be given; and