Relief against forfeiture

(1) A lessee upon whom a notice has been served under section 59, or against whom the lessor is proceeding by action or re-entry, to enforce his right of forfeiture, may apply to a court for relief; and the court may grant or refuse relief, as the court, having regard to the proceedings and the conduct of the parties and the circumstances of the case, thinks fit, and if it grants relief, may grant it on such terms as it thinks fit. (2) Subject to sub-section (3), the court, on application by any person claiming as sublessee or chargee any interest in the property or part of the property comprised in the lease forfeited or sought to be forfeited, may make an order vesting the property or such part of the property in such sub lessee or 45 chargee for the whole period of the lease or any less period, upon such conditions as the court, in the circumstances of the case, thinks fit. (3) Nothing in sub-section (2) shall apply in the case of a forfeiture arising from a breach to which the sub lessee is a party or from the breach of an express agreement or condition against subleasing, parting with the possession of or disposing of the property leased. (4) For the purpose of this section, a lease limited to continue as long only as the lessee abstains from committing a breach of the agreement or condition shall be and take effect as a lease to continue for any longer term for which it could subsist, but terminable by a provision for re-entry on such breach. (5) This section shall have effect notwithstanding any stipulation or agreement to the contrary and whether the lease is registered or not.