PART 5Market rent only option: MRO notice
The MRO notice23
1
A tied pub tenant may give a notice (an “MRO notice”) to the pub-owning business where—
a
the event specified in regulation 24 or 25 occurs; or
b
the event specified in regulation 26 or 27 occurs and the investment exception does not apply (see regulation 56).
2
The MRO notice must be—
a
in writing; and
b
received by the pub-owning business within the period of 21 days beginning with the day on which the event mentioned in paragraph (1) occurred.
3
The MRO notice must include—
a
the tenant’s name, postal address, email address (if any) and telephone number;
b
the date on which the notice is being sent;
c
the name of the tied pub in relation to which the request for an offer of a market rent only option is being made and its address;
d
the date on which the event mentioned in paragraph (1) occurred; and
e
a description of that event which, in the tenant’s opinion, demonstrates that it is an event specified in regulation 24, 25, 26 or 27.
4
A tied pub tenant may not give an MRO notice to the pub-owning business where—
a
the tenant has already given an MRO notice under paragraph (1); and
b
the MRO procedure20 which relates to that notice has not ended.