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Lease may be renewed without surrender of undertenancies, &c.
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8. The surrender of any lease made before or after the passing of this Act for the purpose of obtaining a renewal thereof, shall be valid without the surrender of the interests of the undertenants thereunder; and the owners of such renewed lease for the time being and their representatives shall have the same rights and remedies as against such under-tenants as he or they would have had or have been entitled to had such surrender not been executed; and the chief landlord shall have the same remedies against the premises for the rents and duties reserved in such new lease, not exceeding the rents and duties reserved by the lease out of which such under-tenancies were derived, as he would have been entitled to in case no such surrender had been executed.
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