Part 7: Conservation Covenants Section 134: Effect of deemed surrender and re-grant of qualifying estate
Section 117 requires that a conservation covenant be created by a landowner who holds a "qualifying estate" in the land to which the agreement relates. The qualifying estate must be a freehold, or a lease granted for a term of more than seven years.
	Section 134 sets out what is to happen where the qualifying estate is a lease which is surrendered and re-granted by operation of law. This takes place in circumstances where a radical amendment to its terms is agreed between the lessor and lessee. In particular, where the lessor and lessee agree an extension of the term of the lease, there is a deemed surrender and re-grant. Special provision is needed owing to the role in this Part of the qualifying estate. The position of successors under section 122 and 123 depends upon those successors holding the qualifying estate. But the qualifying estate ceases to exist on a surrender and re-grant.
	Section 134 provides that in these, circumstances, sections 122, 123 and 127 are to be read as if the "qualifying estate" is a reference to the term of years deemed to be granted by the operation of law. Accordingly, the tenant of the extended lease, and successors, remains liable under the conservation covenant.
	However, section 121 is not affected. The duration of the conservation covenant therefore remains unchanged: it will either be the length of the original lease (that is, the default period under section 121(2)(b)) or such shorter period as the parties originally agreed (under section 121(1)).