The reversioner1 in respect of the specified premises2 must give a counter-notice to the nominee purchaser3 by the date specified4 in the initial notice5.
The counter-notice must comply with one of the following requirements, namely:
(1) state that the reversioner admits that the participating tenants were6 on the relevant date7 entitled to exercise the right to collective enfranchisement8 in relation to the specified premises;
(2) state that, for such reasons as are specified in the counter-notice, the reversioner does not admit that the participating tenants were9 so entitled;
(3) contain such a statement as is mentioned in head (1) or
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