5During the period beginning with incorporation of a commonhold association and ending when [F1land specified in its articles] becomes commonhold land, the subscribers (or subscriber) to [F2the association's memorandum of association] shall be the sole members (or member) of the association.
Textual Amendments
F1Words in Sch. 3 para. 5 substituted (1.10.2009) by The Companies Act 2006 (Consequential Amendments, Transitional Provisions and Savings) Order 2009 (S.I. 2009/1941), Sch. 1 para. 195(7)(a)
F2Words in Sch. 3 para. 5 substituted (1.10.2009) by The Companies Act 2006 (Consequential Amendments, Transitional Provisions and Savings) Order 2009 (S.I. 2009/1941), Sch. 1 para. 195(7)(b)