(1) This Act does not apply to any of the following leases of retail shops--(b) leases for a term of 25 years or more (with the term of a lease taken to include any term for which the lease may be extended or renewed at the option of the lessee),(c) leases entered into before the commencement of this section,(d) leases entered into under an option granted or agreement made before the commencement of this section,(e) any other lease of a class or description prescribed by the regulations as exempt from this Act.
(2) This Act does not apply to any lease referred to in this section that is assigned to another person after the commencement of this section.
Note--: Part 9A provides for certain exemptions regarding premises at airports.