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7.—(1) The reversioner may require the nominee purchaser to pay a deposit on exchange of contracts in pursuance of the initial notice.
(2) The amount of the deposit required shall be #500, or 10 per cent.of the purchase price agreed or determined by a leasehold valuation tribunal to be payable for the interests to be acquired, whichever is the greater.
(3) The nominee purchaser shall pay the deposit so required to the reversioner’s solicitor or licensed conveyancer as stakeholder.
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