Section 1 (right to collective enfranchisement) is amended as follows.

In subsection (1), for the words from “on qualifying tenants” to the end of paragraph (b) substitute “ the right to acquire the freehold of premises to which this Chapter applies on the relevant date, at a price determined in accordance with this Chapter, exercisable subject to and in accordance with this Chapter by a company (referred to in this Chapter as a RTE company) of which qualifying tenants of flats contained in the premises are members; ”.

In subsection (2)(a), for the words from “the qualifying tenants” to “have acquired,” substitute “ the RTE company by which the right to collective enfranchisement is exercised is entitled, subject to and in accordance with this Chapter, to acquire, ”.