Section 60Part 5 — Dispositions
Subleases
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60. (1) Subject to any provision in his lease affecting his right to do so, the proprietor of a registered lease may, by a sublease in the prescribed form, sublease for any period which is less than the remainder of the period of his lease.
Save as otherwise expressly provided, the provisions of this Law affecting leases, lessors and lessees shall apply to subleases, sublessors and sublesses, with such adaptations as are necessary.
If a lease is terminated by operation of law or under any law relating to bankruptcy or liquidation proceedings, such termination shall terminate the sublease.
In addition to the agreements specified by this Law to be implied in leases, there shall be implied in every sublease under this Law an agreement by the sublessor that he will, during the continuance of the sublease, pay the rent reserved by the lease under which the sublessor holds, and observe and perform the agreements and conditions thereof.
Where a sublessee has paid to the sublessor’s lessor the rent or any part of the rent payable by the sublessor under the lease under which the sublessor holds, the sublessee shall be entitled to set off any sum so paid against the rent payable by him to the sublessor in respect of the sublease.