(1)Any rights of pre-emption, redemption or reversion otherwise exercisable over land in which a community interest has been registered are—
(a)suspended as from the date when the community body sends the confirmation sought by Ministers under section 49(2)(a) above of its intention to buy the land; and
(b)revived—
(i)when the transfer under this Part of this Act of the land to the community body is completed; or
(ii)if such a transfer is not completed because the community body does not (by virtue of declining, under section 54 above, to buy the land or for any other reason) proceed to buy the land.
(2)Any rights which a person has in land over which a community interest has been registered, being rights conferred on the person under—
(a)Part 3 of this Act;
(b)section 12 of the Crofters (Scotland) Act 1993 (c. 44);
(c)any order under that Act of the Land Court in favour of the crofter;
(d)the provisions of Part III of the Housing (Scotland) Act 1987 (c. 26) relating to a person’s right to purchase the house of which the person is a tenant,
are suspended as provided in paragraph (a) of subsection (1) above but revived in the circumstances set out in paragraph (b) of that subsection.
(3)Nothing in this Part of this Act—
(a)affects the operation of an inhibition on the sale of the land;
(b)prevents an action of adjudication from proceeding; or
(c)affects the commencement, execution or operation of any other diligence.