Power of judge to determine lease where premises demolished

(1) Where any premises, in respect of which any order or scheme under this Part has become operative, form the subject matter of a lease, either the lessor or the lessee may apply in writing to a judge for an order under this section. (2) Upon any application under subsection (1) of this section, the judge, after giving to any sub lessee an opportunity of being heard, may, if he thinks fit, make an order for the determination of the lease, or for the variation thereof, and, in either case, either unconditionally or subject to such terms and conditions, including conditions with respect to the payment of money by any party to the proceedings to any other party thereto by way of compensation, damages, or otherwise, as the judge may think just and equitable to impose, regard being had to the respective rights, obligations, and liabilities of the parties under the lease and all the other circumstances of the case. (3) In this section, “lease” includes an under-lease and any tenancy or agreement for a lease, under-lease or tenancy, whether any such be registered or not and “lessor”, “lessee”, and “sub lessee” shall be construed accordingly and as including also a person deriving title under a lessor, lessee, or sub lessee. 40