(1)The appointment of any person as the nominee purchaser, or as one of the persons constituting the nominee purchaser, may be terminated by that person by the giving of a notice stating that he is resigning his appointment with effect from 21 days after the date of the notice.
(2)Any such notice must be given—
(a)to each of the participating tenants; and
(b)to the reversioner in respect of the specified premises.
(3)Where the participating tenants have received any such notice, they shall, within the period of 56 days beginning with the date of the notice, give to the reversioner a notice informing him of the resignation and containing the following particulars, namely—
(a)the name or names of the person or persons for the time being constituting the nominee purchaser,
(b)if falling after that date, the date of appointment of that person or of each of those persons, and
(c)an address in England and Wales at which notices may be given to that person or those persons under this Chapter;
and the appointment of any person by way of replacement for the person resigning his appointment shall not be valid unless his name is specified, or is one of those specified, under paragraph (a).
(4)Subsections (6) to (8) of section 15 shall have effect in connection with a person’s resignation of his appointment in accordance with this section as they have effect in connection with the termination of a person’s appointment in accordance with that section.
(5)Where the person, or one of the persons, constituting the nominee purchaser dies, the participating tenants shall, within the period of 56 days beginning with the date of death, give to the reversioner a notice informing him of the death and containing the following particulars, namely—
(a)the name or names of the person or persons for the time being constituting the nominee purchaser,
(b)if falling after that date, the date of appointment of that person or of each of those persons, and
(c)an address in England and Wales at which notices may be given to that person or those persons under this Chapter;
and the appointment of any person by way of replacement for the person who has died shall not be valid unless his name is specified, or is one of those specified, under paragraph (a).
(6)Subsections (6) and (8) of section 15 shall have effect in connection with the death of any such person as they have effect in connection with the termination of a person’s appointment in accordance with that section.
(7)If—
(a)the participating tenants are required to give a notice under subsection (3) or (5), and
(b)as a result of the resignation or death referred to in that subsection there is no nominee purchaser for the time being,
the running of any period which—
(i)is prescribed by or under this Part for the giving of any other notice or the making of any application, and
(ii)would otherwise expire during the period beginning with the relevant date and ending with the date when the particulars specified in that subsection are notified to the reversioner,
shall (subject to subsection (8)) be suspended throughout the period mentioned in paragraph (ii); and for this purpose “the relevant date” means the date of the notice of resignation under subsection (1) or the date of death (as the case may be).
(8)If—
(a)the circumstances are as mentioned in subsection (7)(a) and (b), but
(b)the participating tenants fail to give a notice under subsection (3) or (as the case may be) subsection (5) within the period of 56 days specified in that subsection,
the initial notice shall be deemed to have been withdrawn at the end of that period.
(9)Where a notice under subsection (1) is given by a person who is one of two or more persons together constituting the nominee purchaser, a copy of the notice shall be given by him to every other person included among those persons; and a copy of any notice given under subsection (3) or (5) shall be given by the participating tenants to every relevant landlord (other than the reversioner) to whom the initial notice or a copy of it was given in accordance with section 13 and Part II of Schedule 3.
(10)Nothing in this section applies in relation to the resignation or death of the nominee purchaser (or any of the persons together constituting the nominee purchaser) at any time after a binding contract is entered into in pursuance of the initial notice.