(1) The Pubs Code must require pub-owning businesses to offer their tied pub tenants falling within section 70(1)(a) a market rent only option in specified circumstances.

(2) A "market rent only option" means the option for the tied pub tenant -

(a) to occupy the tied pub under a tenancy or licence which is MRO-compliant, and

(b) to pay in respect of that occupation -

(i) such rent as may be agreed between the pub-owning business and the tied pub tenant in accordance with the MRO procedure (see  section 44), or

(ii) failing such agreement, the market rent.

(3) The Pubs Code may specify -

(a) circumstances in which a market rent only option must or may be an option to occupy under a tenancy;