Regulation 2 Interpretation

In this Part of these Regulations—

• “the Act” means the Levelling-up and Regeneration Act 2023;

• “auction period”, in relation to particular qualifying high-street premises^f1, is the period of 12 weeks starting with the first day on which the conditions in section 203(1) of the Act are satisfied in relation to those premises, and references in this Part to a week by reference to its ordinal number are to that week in the auction period;

• “the premises” means the premises which are to be the subject of the rental auction^f2;

• “working day” means a day other than—

  1. (a)

     a Saturday or Sunday,

  2. (b)

     Christmas Day or Good Friday, or

  3. (c)

     a day which is a bank holiday under the Banking and Financial Dealings Act 1971^f3 in England and Wales.