Part 3: Enforcement by Taking Control of Goods Schedule 13: Taking control of goods: amendments Section 74: Lease
364.This section defines the term “lease”. A lease means any lease that may exist in law or in equity. This section makes it clear that a “lease” includes a tenancy at will, but does not include a tenancy at sufferance. So, for the purposes of CRAR, a “lease” includes all forms of lease, including long leases, short tenancies, tenancies by estoppel and other equitable leases.
365.A lease must, however, be evidenced in writing. The intention is to ensure that CRAR can only be used in circumstances where the main terms of the lease (particularly the rent) are clear and certain to the parties concerned.