In practice this condition will have limited independent
significance. If a lease is part of a 'new scheme' (the second
condition) it is extremely likely that the lease will have been
granted on or after 26 November 1996. And if the lease is not part
of a 'new scheme', Part II will not in any event apply since all
the conditions have to be satisfied.
You should resist any contention that a lease which is
admittedly a 'new scheme' was granted prior to 26 November
1996.
