ABSTRACT
The 1954 Act remained largely unchanged, with some subtle changes made within the Law of Property Act 1969, it was decided that reform was necessary to modernise the detailed operation of the Act and make the process of the renewal of business tenancies quicker, cheaper, easier and fairer. After much debate through Parliament, the changes were finally enacted in the Regulatory Reform Order 2003 which took effect in 2004. This change was intended to improve the smooth operation of the renewal and termination procedures and to ensure that information supplied by one party to the other, is up to date and accurate. Tenants are no longer required to serve a counter notice in response to the landlord's section 25 notice. Conversely, landlords are still required to serve a hostile counter notice to a tenant's section 26 notice if they are intending to oppose the renewal. Interim rent is payable for the period between the old lease and the new lease.
