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Review of rent.
[New]
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24.—(1) In the case of a new tenancy under this Part the terms of which were fixed by the Court—
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(a) the landlord or the tenant shall be entitled to apply to the Court for a review of the rent at any time after the expiration of five years from the date on which the terms were fixed;
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(b) the landlord or the tenant may apply for a further review of the rent at any time after the expiration of five years from the first or any subsequent review.
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(2) The person seeking the review shall serve on the other party one month's notice of his intention to apply for a review of the rent.
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(3) In default of agreement on the rent, the person seeking the review shall be entitled to apply to the Court not later than three months after service of the notice for a review of the rent.
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(4) In default of agreement, the rent fixed upon such review shall become payable on whichever of the following dates is the later—
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(a) the first gale day after service of the notice of intention to apply for the review, or
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(b) (i) where the rent has not previously been reviewed, the first gale day following the review,
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(ii) where the rent has previously been reviewed, five years after the first gale day following the previous review.
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