Special provision as to leases

(1) Where any land is comprised in a lease for a term of years unexpired and part only of such land is acquired compulsorily, the rent payable in respect of the land comprised in such lease may, on the application of the lessor or the lessee to the Supreme Court, be apportioned between the land acquired and the residue of the land. (2) After such apportionment, the lessee shall, as to all future accruing rent, be liable to pay only so much of the rent as shall be so apportioned in respect of the residue of the land, and as to the residue of the land, and as against the lessee, the lessor shall have all the same rights and remedies for the recovery of such portion of the rent as previously to such apportionment he had for the recovery of the whole rent reserved by the lease. (3) All the covenants, conditions, and agreements of such lease, except as to the amount of rent to be paid, shall remain in force with regard to the residue of the land in the same manner as they would have done in case the residue of the land only had been included in the lease. (4) Where it is shown that the compulsory acquisition of a portion of land comprised in a lease has rendered the residue unsuitable for the purpose for which the land was leased or where in the circumstances the court considers it just to do so the court may rescind the lease altogether, and in such case the lessee shall only be liable to pay the rent due at the date of the occurrence of the circumstance on which the rescission order is based. (5) Whereas the result of such rescission of lease the lessor or lessee suffers any loss or injury he shall be entitled to compensation as provided in this Act.