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Sounds like extraordinarily bad legislation.
Only if you're a leaseholder. If you're a freeholder, it's brilliant legislation. Which is why freeholders spent so much effort to get themselves heard during drafting.
It's the same old story - has its own hashtag, #leaseholdscandal - and this is always the same problem.
This guy is an interesting read on the draft bill.
https://twitter.com/nearlylegal