§ 8B.—(1) This section applies where the landlord is obliged to proceed and the offer notice was one to which section 5B applied (sale by auction).
§ (2) The nominated person may, by notice served on the landlord not less than 28 days before the date of the auction, elect that the provisions of this section shall apply.
§ (3) If a contract for the disposal is entered into at the auction, the landlord shall, within the period of seven days beginning with the date of the auction, send a copy of the contract to the nominated person.
§ (4) If, within the period of 28 days beginning with date on which such a copy is so sent, the nominated person—
- (a) serves notice on the landlord accepting the terms of the contract, and
- (b) fulfils any conditions falling to be fulfilled by the purchaser on entering into the contract, the contract shall have effect as if the nominated person, and not the purchaser, had entered into the contract.
§ (5) Unless otherwise agreed, any time limit in the contract as it has effect by virtue of subsection (4) shall start to run again on the service of notice under that subsection; and nothing in the contract as it has effect by virtue of a notice under this section shall require the nominated person to complete the purchase before the end of the period of 28 days beginning with the day on which he is deemed to have entered into the contract.
§ (6) If the nominated person—
- (a) does not serve notice on the landlord under subsection (2) by the time mentioned in that subsection, or
- (b) does not satisfy the requirements of subsection (4) within the period mentioned in that subsection, the following provisions of this Part apply as if he had given notice under section 9A (withdrawal by nominated person) at the end of that period.