In this part—
"unexpired term" , of an engagement of a person as a service contractor or an
authorisation of a person as a letting agent, includes the term of—
(a) a right or option of extension or renewal of the engagement or authorisation, whether provided for in the engagement or authorisation or subsequently approved by the body corporate; and
(b) a subsequent right or option, under section 130(2) or 131(2), for the engagement or authorisation.