101.—(1) Notwithstanding anything contained in the Act of 1936 or in a purchase scheme, the provisions of subsection (2) of this section shall have effect.

(2) Where the rent of a cottage is revised, whether before or after the commencement of this section, otherwise than on account of any change in the amount of the municipal or county rate, or otherwise than on account of the provisions of a scheme providing for graded or differential rents, the following provisions shall apply:

(a) the amount of the terminable annuity to be paid in respect of the cottage as the consideration for the purchase thereof shall be the amount (in this section referred to as the revised amount) which bears the same proportion to the yearly amount payable in respect of such rent, when so revised, as the amount of the terminable annuity specified in the relevant purchase scheme bears to the amount which was payable annually as respects such rent when the purchase scheme came into force, and

(b) the amount of the terminable annuity specified in the relevant purchase scheme shall, for the purposes of the Act of 1936, be deemed to be equal to the revised amount.