1351. Retirement of the nominee purchaser.

The appointment of any person as the nominee purchaser1, 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 notice2.

Any such notice must be given:

  1.  

    (1)     to each of the participating tenants3; and

  2.  

    (2)     to the reversioner in respect of the specified premises4.

Where the participating tenants have received any such notice, they must, within the period of 56 days beginning with the date of the notice, give to the reversioner