The provisions described below apply in relation to any demolition of the whole or part of a building except:
(1) a demolition in pursuance of a demolition order or obstructive building order made under Part IX of the Housing Act 19851; and
(2) a demolition:
(a) of an internal part of a building, where the building is occupied and it is intended that it should continue to be occupied2;
(b) of a building that has a cubic content, as ascertained by external measurement, of not more than 1750 cubic feet, or, where a greenhouse, conservatory, shed or prefabricated garage
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This Practice Note examines:•why negative pledge clauses are used in commercial transactions •the consequences of breaching negative pledge provisions•how negative pledges are viewed in the context of security and quasi-security, and•key considerations when drafting a negative pledge clauseWhere
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