(1) After the commencement of this Act, no tenant shall, except by entering into a supplementary agreement to the existing tenancy agreement,
(a) sub-let whole or part of the premises held by him as a tenant;
(b) Transfer or assign his rights in the tenancy agreement or any part thereof.
(2) Where the premises is sub-let upon entering into a supplementary agreement to the existing tenancy agreement as referred to in sub- section (1), the landlord and tenant shall jointly inform the Rent Authority about the sub-tenancy within a period of two months from the date of execution of such agreement in the Form specified in the First Schedule.