Landlord and Tenant (Reversionary Leases) Act, 1958

Restrictions on the right to a reversionary lease.

15.— (1) No person shall be entitled to obtain a reversionary lease under this Act of the land or any part of the land comprised in a lease where the immediate lessor or any superior lessor who is a necessary party to the granting of the reversionary lease satisfies the Court—

(a) that his interest in reversion in such land is a freehold estate or is for a term of not less than fifteen years; and

(b) (i) that he bona fide intends, or has agreed, to pull down and rebuild or to reconstruct the whole or a substantial portion of the buildings on the land comprised in such lease, or

(ii) that he requires vacant possession of such land for the purpose of carrying out a scheme of development of property which includes such land, or

(iii) that for any reason the grant of such reversionary lease would not be consistent with good estate management.

(2) A lessee who has been declared not to be entitled to a reversionary lease under subsection (1) of this section shall be entitled to remain in possession of the premises comprised in his lease after the expiration of the lease, upon such terms as to the Court may seem just, until the person who successfully objected to the grant of the reversionary lease or his successor in title becomes entitled to possession thereof upon the expiration of the lease or leases upon which his reversion is dependent.

(3) Where a person who successfully objected to the grant of a reversionary lease does not within a reasonable time carry out any intention, agreement or purpose on account of which the application for a reversionary lease was refused, such person shall be guilty of an offence and shall, on summary conviction thereof, be liable to a fine not exceeding five hundred pounds.