Part I Tenants’ Rights of First Refusal
F2 Rights of first refusal
5EF1 Offer notice: disposal for non-monetary consideration.
1
This section applies where, in any case to which section 5 applies, the consideration required by the landlord for making the disposal does not consist, or does not wholly consist, of money.
2
The offer notice, in addition to complying with whichever is applicable of sections 5A to 5D, must state—
a
that an election may made under section 8C (explaining its effect), and
b
that, accordingly, the notice also constitutes an offer by the landlord, which may be accepted by the requisite majority of qualifying tenants of the constituent flats, for a person or persons nominated by them to acquire the property in pursuance of sections 11 to 17.
3
The notice must specify a period within which that offer may be so accepted, being a period of not less than two months which is to begin with the date of service of the notice.
Ss. 5, 5A-5E, 6, 7, 8, 8A-8E, 9A, 9B, 10 and crossheading substituted for ss. 5-10 (1.10.1996) by 1996 c. 52, s. 92(1), Sch. 6 Pt. I; S.I. 1996/2212, art. 2(2) (with Sch.)