Section 360Z4 | Meaning of “lease” etc. ^F1

(1)In this Part “ lease ” includes—^F1

(a)an agreement for a lease if the term to be covered by the lease has begun, and^F1

(b)any tenancy,^F1

but does not include a mortgage (and “ lessee ”, “ lessor ” and “ leasehold interest ” are to be read accordingly).

(2)In the application of this Part to Scotland—^F1

(a)“ leasehold interest ” or “ leasehold estate ” means the interest of a tenant in property subject to a lease, and^F1

(b)any reference to an interest which is reversionary on a leasehold interest or on a lease is to be read as a reference to the interest of the landlord in the property subject to the leasehold interest or lease.^F1