38 Transfer of existing tenancies from public to private sector

38  Transfer of existing tenancies from public to private sector

(1)     The provisions of subsection (3) below apply in relation to a tenancy which was entered into before, or pursuant to a contract made before, the commencement of this Act if,—

(a)     at that commencement or, if it is later, at the time it is entered into, the interest of the landlord is held by a public body (within the meaning of subsection (5) below); and

(b)     at some time after that commencement, the interest of the landlord ceases to be so held.

(2)     The provisions of subsection (3) below also apply in relation to a tenancy which was entered into before, or pursuant to a contract made before, the commencement of this Act if,—

(a)     at the commencement of this Act or, if it is later, at the time it is entered into, it is a housing association tenancy; and

(b)     at some time after that commencement, it ceases to be such a tenancy.

(3)     [Subject to subsections (4) [[(4ZA), (4A), (4BA)] and (4B),] below] on and after the time referred to in subsection (1)(b) or, as the case may be, subsection (2)(b) above—

(a)     the tenancy shall

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