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1. The applicant entered a lease with the respondent on 24th August 1979 for a tenancy of 2 years commencing on 1st August 1979 at a monthly rent of $10,000 per month exclusive of rates and management charges for premises known as Flat B51, Repulse Bay Apartments, 101 Repulse Day Road. The tenancy was thereafter continued in force under Part II of the Landlord and Tenant (Consolidation) Ordinance, Cap. 7 until 19th December 1982 when it came within Part Iv of Cap. 7 by reason of the rateable val