Section 166
⎯(1)
The term of any sublease may, from time to time, be extended by a memorandum of extension in Form M in the First
Schedule signed by the lessor and the sublessee for the time being and registered before the expiry of the then current term of the sublease.
(2)
Subject to the provisions of this section, a memorandum of extension shall have the same effect as if it were a memorandum of sublease for the extended term, subject to the same covenants, conditions and restrictions, with the necessary modifications, as are contained or implied in the sublease. Upon the registration of a memorandum of extension, the estate of the sublessee thereunder shall be deemed to be subject to all encumbrances and other interests to which the sublease is subject at the time of the registration of the memorandum of extension.
(3)
The covenants, conditions and restrictions contained or implied in the sublease may be expressly varied, negatived or added to by the memorandum of extension.
(4)
A memorandum of extension may be registered in the same manner as the original sublease, and a certificate thereto shall be entered on the Register and on all relevant instruments.
(5)
If the land affected by the memorandum of extension is, at the time of the registration of the memorandum, subject to any charge, the memorandum shall not be binding on the chargee unless he has consented thereto in writing on the memorandum.
138
Surrender of sublease