880. Disclaimer of leasehold property

(1) The disclaimer of any property of a leasehold character does not take effect unless a copy of the disclaimer has been served (so far as Board is aware of their addresses) on every person claiming under the company as underlessee, sublessee or mortgagee, and either—
(a) no application under section 881 (power of Court to make vesting order) is made with respect to that property before the end of the period of 14 days be-ginning with the day on which the last notice under this paragraph was served, or
(b) where such an application has been made, the Court directs that the disclaimer shall take effect.
(2) Where the Court gives a direction under subsection (1)(b) it may also, instead of or in addition to any order it makes under section 881, make such order as it thinks fit with respect to fixtures, tenant's improvements and other matters arising out of the lease.