1376. Timing and contents of reversioner's counter-notice.

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.  

    (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.  

    (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.  

    (3)     contain such a statement as is mentioned in head (1) or