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Adjustment of rents in certain cases in urban area.
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20.—(1) Where a hereditament situated in an urban area is on the date of the commencement of this section, held (whether together with or without other premises) under a lease which binds the lessor to pay or allow a deduction or set off against or otherwise to relieve the lessee from any rates (other than poor rate) payable in respect of the hereditament, all rent payable under the lease in respect of a period commencing on or after the date of the commencement of this section shall be reduced—
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(a) in the case of an annual rent, by an amount equal to the amount of the rates (other than poor rate) made by the urban authority in respect of the hereditament for the local financial year expiring at the commencement of this section to which the relief afforded to the lessee by the lease lawfully extended, and
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(b) in the case of any rent other than an annual rent, by an amount which bears to the rates (other than poor rate) made by the urban authority in respect of the hereditament for the said local financial year to which the relief afforded to the lessee by the lease lawfully extended the same proportion as the period by reference to which such rent is calculated bears to one year.
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(2) In this section, the word “lease” includes any contract of tenancy, whether in writing or verbal, whereby the relation of landlord and tenant is created, and the words “lessor” and “lessee” respectively include the landlord of and the tenant under such tenancy.
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