Part I LANDLORD AND TENANT
Chapter II INDIVIDUAL RIGHT OF TENANT OF FLAT TO ACQUIRE NEW LEASE
Termination or suspension of acquisition procedures
55 Effect on tenant’s notice of institution of compulsory acquisition procedures.
(1)
A notice given by a tenant under section 42 shall be of no effect if on the relevant date—
(a)
any person or body of persons who has or have been, or could be, authorised to acquire the whole or part of the tenant’s flat compulsorily for any purpose has or have, with a view to its acquisition for that purpose—
(i)
served notice to treat on the landlord or the tenant, or
(ii)
entered into a contract for the purchase of the interest of either of them in the flat or part of it, and
(b)
the notice to treat or contract remains in force.
(2)
A notice given by a tenant under section 42 shall cease to have effect if, before a new lease is entered into in pursuance of it, any such person or body of persons as is mentioned in subsection (1) serves or serve notice to treat as mentioned in that subsection.
(3)
Where subsection (2) applies in relation to a notice given by a tenant under section 42, then on the occasion of the compulsory acquisition in question the compensation payable in respect of any interest in the tenant’s flat (whether or not the one to which the relevant notice to treat relates) shall be determined on the basis of the value of the interest subject to and with the benefit of the rights and obligations arising from the tenant’s notice and affecting that interest.