(1) This Act applies, subject to this subpart, where an application to deposit a unit plan is contemplated in respect of an estate in land if—
(a) that estate is held by—
(i) a registered proprietor that is a flat or office owning company within the meaning of Part 7A of the Land Transfer Act 1952; or
(ii) registered proprietors each of whom holds that estate with the other registered proprietors as tenant in common and also as the proprietor of a leasehold interest in part of the land under a lease made between all the registered proprietors at the date of the lease as lessors and the registered proprietor (or a person through whom the registered proprietor claims) as lessee; and
(b) the boundaries of the principal units (as they would be according to the unit plan if it were deposited) are exactly the same as the boundaries under—
(i) the licences granted in connection with the ownership by the flat or office owning company; or
(ii) the lease described in paragraph (a)(ii).
(2) In this subpart, unless the context otherwise requires,—
company means a company to which subsection (1)(a)(i) applies
member, in relation to a company incorporated under Part 2 of the Companies Act 1993, means a shareholder as defined in section 96 of that Act and, in relation to any other company, means a member of, or shareholder in, the company
owners means a group of registered proprietors to whom subsection (1)(a)(ii) applies.
Compare: 1972 No 15 s 56