4.—(1) In this section “the relevant date” means the date on which a State authority F1[or the Central Bank of Ireland, as the case may be,] acquires the interest of the lessor or immediate lessor of any premises.

F1[(1A) Subject to subsections (1B) and (1C), this Act shall not bind the Central Bank of Ireland (in this subsection and subsections (1B) and (1C) referred to as ‘the Bank’) in its capacity as lessor or immediate lessor of any premises.

(1B) Where the Bank acquires the interest of the lessor or immediate lessor of any premises after the coming into operation of section 86 of the Central Bank (Supervision and Enforcement) Act 2013 and the Bank did not have any previous interest in the premises as lessor or immediate lessor, section 13 shall apply as if the expressions ‘at any time’ and ‘at that time’ in subsection (1) thereof were references to the relevant date and Part II shall have effect accordingly, save that a tenant of the Bank whose tenancy of the premises is renewed under that Part as applied by this section shall not be entitled to a further renewal of that tenancy.

(1C) In a case to which subsection (1B) applies, subsection (1A) shall not apply so as to disqualify any person for payment of compensation for improvements in respect of such improvements as may have been carried out before the relevant date.]

(2) Subject to the following subsections, this Act shall not bind a State authority in its capacity as lessor or immediate lessor of any premises.

F2[(3) Where a State authority acquires the interest of the lessor or immediate lessor of any premises after the commencement of this Act and neither that nor any other State authority had any previous interest in the premises as lessor or immediate lessor, section 13 shall apply as if the expressions ‘at any time’ and ‘at that time’ in subsection (1) thereof were references to the relevant date and Part II shall have effect accordingly, save that a tenant of the State authority whose tenancy of the premises is renewed under that Part as applied by this section shall not be entitled to a further renewal of his tenancy.]

(4) F3[…]

(5) In a case to which subsection (3) applies, subsection (2) shall not apply so as to disqualify any person for payment of compensation for improvements in respect of such improvements as may have been carried out before the relevant date.