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16.—(1) Where under section 7 of the Measure a relevant housing provider has served notice on an office holder or other person or body of a regulated transaction any person or body on whom or which notice is served may object to the transaction by giving notice to the relevant housing provider, stating the grounds of the objection, within the period of twenty eight days beginning on the next working day after the date of the relevant housing provider’s notice.
(2) Subject to paragraph (3) below, within the period of five days of the receipt of any notice of objection given under paragraph (1) above, the relevant housing provider shall send it for consideration—
(a)where the provider is the Commissioners or where the consent of the Commissioners is required to the transaction, to the Archbishops’ Council,
(b)in any other case, to the Commissioners.
(3) If the relevant housing provider considers that the objection is well founded, it need not refer it under paragraph (2) above and shall—
(a)notify the person or body which served the notice accordingly; and
(b)either discontinue any action with respect to the regulated transaction or consider whether to proceed with a different regulated transaction.
(4) The Archbishops’ Council or the Commissioners, as the case may be, shall, after considering the grounds of objection and all relevant circumstances, direct that the transaction shall proceed if the relevant housing provider satisfies it or them that any objection should not be upheld and, in any other case, direct that the transaction shall not proceed.
(5) Without prejudice to their powers to appoint committees, the Archbishops’ Council may delegate the consideration of any objections to a committee appointed by the Council for the purposes of this regulation and the Commissioners may delegate the consideration of objections to any committee of the Commissioners established by or appointed under the Church Commissioners Measure 1947(1).
(6) If the relevant housing provider is satisfied that the issue of any notice under section 9 of the Measure should be dispensed with owing to the urgency of a proposed regulated transaction, or if the Archbishops’ Council or the Commissioners are satisfied that, owing to the urgency of the transaction, objections should not be considered, the Council or the Commissioners, as the case may be, may direct that the transaction shall proceed without issuing the notice or consideration of any objections, as the case may be, provided that every person or body on whom notice of the transaction has been served (or is required to be served, as the case may be) agrees.
(7) Paragraph (5) above applies to the consideration of the matters referred to in paragraph (6) above as it applies to the consideration of objections.
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