Prospective
3(1)Section 1 (right to collective enfranchisement) is amended as follows.E+W
(2)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; ”.
(3)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, ”.
(4)In subsection (5)—
(a)for “qualifying tenants” substitute “ a RTE company ”, and
(b)for “those tenants are” substitute “ the RTE company is ”.