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Paragraph 5 Duration and extension of relevant right

Changes not yet applied. Later legislation changes this provision in ways not yet written into the text below:

(1)

Subject to the following provisions of this paragraph, a relevant right may be exercised only during the period of one year starting with the date on which the certificate of entitlement relating to the right is issued.

(2)

The Secretary of State may, if in the circumstances of the case he thinks fit, extend on one or more occasions the period during which a relevant right may be exercised.

(3)

Any such extension shall be for a period of one year starting with the date on which, but for the extension, the right would have ceased to be exercisable.

(4)

No extension shall be granted unless the following conditions are satisfied—

(a)

the purchaser has applied in writing for the extension;

(b)

the application is made in the period of 28 days ending with the date on which the right would cease to be exercisable if no extension were granted;

(c)

the application is accompanied by the certificate of entitlement;

(d)

the fee specified in paragraph 7 is paid.