69Provisions of Act as to leases to apply, with necessary modifications, to subleases

69 Provisions of Act as to leases to apply, with necessary modifications, to subleases

(1)  The provisions of this Act affecting leases, lessors, and lessees apply to subleases, sublessors, and sublessees, with such modifications and exceptions as the difference between a lease and sublease require.

(2)  If a lease is determined by forfeiture of a superior lease or otherwise by operation of law, the assurance fund shall not be liable for compensation for any loss, damage, or deprivation occasioned by that determination.

(3)  [Section 69 Subsection (3) amended by No. 23 of 2021, s. 65, Applied:01 Jan 2022] In addition to the covenants specified by this Act to be implied in leases, there shall be implied in every sublease under this Act a covenant that the sublessor will during the term granted by the sublease pay the rent reserved by and perform and observe the covenants and agreements contained in the sublessor's lease and on the sublessor’s part to be paid, performed, and observed.