Determination of whether converted contract is secure contract or standard contract
7(1)A converted contract to which sub-paragraph (2) applies is an additional exception to section 11(1) (contracts made with community landlord are secure contracts).
(2)This sub-paragraph applies to a converted contract which immediately before the appointed day was a tenancy or licence for a fixed term, provided that—
(a)a premium was paid for the contract, and
(b)before the end of the period of one month starting with the appointed day, the contract-holder decides that the contract should become a fixed term standard contract.
(3)Before the appointed day, a community landlord which is the landlord under a tenancy or licence for a fixed term, and for which a premium was paid, must—
(a)inform the contract-holder of his or her right under sub-paragraph (2)(b) to decide that the contract should become a fixed term standard contract, and of the time by which that decision must be made, and
(b)explain how section 11 will apply to the contract if the contract-holder does not make such a decision.