Where trustees are the qualifying tenants1 of a flat2 for the purposes of the statutory rights to collective enfranchisement or the individual right to a new lease3, their powers under the instrument regulating the trusts include power to participate in4 the exercise of the right to collective enfranchisement5 or, as the case may be, to exercise the right6 to a new lease7. This does not, however apply where the instrument regulating the trusts:
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