s 360Z4 Meaning of “lease” etc.
(1) In this Part “ lease ” includes— (a) an agreement for a lease if the term to be covered by the lease has begun, and (b) any tenancy, 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— (a) “ leasehold interest ” or “ leasehold estate ” means the interest of a tenant in property subject to a lease, and (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.