Sale or Lease 3LD sub-domains, clarification sought

[mif]

From a thread a while ago, regarding Nominet rules on what one can do with a .uk name
>The sale of third level ("3LD") registrations to unrelated parties is not permitted

Yep, fair enough. One can see why.

What about leasing the sub-domain foo.example.uk Are there any specific regulations regarding leasing?

And would they be the same as for example.co.uk (Actually, what are the rules for .co.uk

Is it 'its your name, you can do what you want'? Or is it 'you are sub-letting in our name space, you can't do that'?

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Mike