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Article 3
A notice of opportunity to purchase shall:
(a)include a draft statement of terms;
(b)set out the upset price;
(c)contain a statement that if the adjoining owner wishes to proceed with the opportunity to purchase the land the adjoining owner must send notice in writing to the General Trustees by a date prescribed in the notice of opportunity to purchase (which shall be not less than 21 days from the date of sending of the notice of opportunity to purchase to the adjoining owner) confirming that the adjoining owner:
(i)wishes to proceed with the opportunity to purchase the land; and
(ii)whether or not the adjoining owner accepts the draft statement of terms and the upset price;
(d)contain a statement that if the adjoining owner does not by the response date confirm in writing to the General Trustees that the adjoining owner wishes to proceed with the opportunity to purchase the land, that adjoining owner shall not be given any further opportunity to purchase the land.
Articles 5, 7 and 13
A notice of statement of terms sent pursuant to article 5 shall include:
(a)a statement of terms in the same terms as in the notice of opportunity to purchase;
(b)a note of the upset price which shall be the same as in the notice of opportunity to purchase;
(c)notice that participating owners shall have until a date specified in the notice (which date shall be not less than 21 days from the latest date of sending of the notice of statement of terms to any participating owner) in which to make an offer on the same terms as the statement of terms to buy the land at a price to be stated in the offer.
A notice of statement of terms sent pursuant to article 7 shall include:
(d)a statement of terms amended as agreed,
(e)a note of the upset price amended as agreed,
(f)notice that participating owners shall have until a date specified in the notice (which date shall be not less than 21 days from the latest date of sending of the notice of statement of terms to any participating owner) in which to make an offer on the same terms as the statement of terms to buy the land at a price to be stated in the offer.
A notice of statement of terms sent pursuant to article 13 shall include:
(g)a statement of terms amended in accordance with the determination of the arbiter,
(h)a note of the upset price amended in accordance with the determination of the arbiter,
(i)notice that participating owners shall have until a date specified in the notice (which date shall be not less than 21 days from the latest date of sending of the notice of statement of terms to any participating owner) in which to make an offer on the same terms as the statement of terms to buy the land at a price to be stated in the offer.
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