Property Law Act 1969

Any interest in land created by parol and not put in writing and signed by the person so creating it, or by his agent thereunto lawfully authorised in writing, has notwithstanding any consideration having been given for the interest, the force and effect of an interest at will only.

Nothing in the foregoing provisions of this Part affects the creation by parol of leases taking effect in possession for a term not exceeding 3 years, whether or not the lessee is given power to extend the term.