In these Regulations—
“ the 2002 Act ” means the Land Registration Act 2002 ;
“ authorised person ” has the same meaning as in section 18 of the Legal Services Act 2007 ;
“ contractual control information ” means the information specified in regulation 8;
“ conveyancer ” means an authorised person who is an individual entitled to carry on the reserved instrument activities set out in paragraph 5(1)(a) and (b) of Schedule 2 to the Legal Services Act 2007 in accordance with the regulatory arrangements of the relevant approved regulator or licensing authority as the case may be;
“ exercise ” means—
in relation to a right specified in regulation 3(2)(a), the exercise of the option;
in relation to a right specified in regulation 3(2)(b), the making of a relevant disposition pursuant to the obligation referred to;
in relation to a right specified in regulation 3(2)(c), the exercise of the right of pre-emption;
in relation to a right specified in regulation 3(2)(d), the making of a relevant disposition pursuant to a direction or request made by the grantee;
“ grantee ” means the person entitled to enforce the contractual control right and, with respect to a right specified in regulation 3(2)(d), includes the person entitled to make the relevant direction or request;
“ grantor ” means the person who enters into the contract that creates or confers the contractual control right as proprietor of a qualifying estate referred to in regulation 3(2) or, in the case of a contract of the type referred to in regulation 5(1)(b), as the person referred to in that paragraph;
“ initial period of control ” means the period commencing with the date of the contract creating or conferring the contractual control right and—
in relation to a right specified in regulation 3(2)(a), ending on the latest date that the right may be exercised under the contract, disregarding any provisions to extend that date;
in relation to a right specified in regulation 3(2)(b), ending on the earliest date that the grantor may terminate the contract on the basis that specified contractual conditions have not been satisfied under the contract, disregarding any provisions to extend that date;
in relation to a right specified in regulation 3(2)(c), ending on the latest date that the grantor is obliged to offer a right of pre-emption, disregarding any provisions to extend that date;
in relation to a right specified in regulation 3(2)(d), ending on the earliest of either—
the date that the right expires, disregarding any provisions to extend that date; or
any date from which the grantor may terminate the contract, disregarding any provisions to extend that date;
“ land ”, “ legal estate ”, “ registered estate ”, “ registrar ” and “ term of years absolute ” have the same meaning as in section 132 of the 2002 Act;
“ licensing authority ” has the same meaning as in section 73 of the Legal Services Act 2007;
“ notice ” has the same meaning as in section 32(1) of the 2002 Act;
“ proprietor ” includes someone entitled to be registered as the proprietor;
“ qualifying estate ” means a registered estate in land, other than a leasehold estate the term of which has less than 15 years remaining on the date on which the contractual control right is created or conferred;
“ regulatory arrangements ” has the same meaning as in section 21 of the Legal Services Act 2007;
“ relevant approved regulator ” has the same meaning as in section 20 of the Legal Services Act 2007;
“ relevant disposition ” means—
a transfer of a legal estate, or
the grant of a term of years absolute of a legal estate for a term of 15 years or more;
“ restriction ” has the same meaning as in section 40(1) of the 2002 Act;
“ total period of control ” means the period commencing with the date of the contract creating or conferring the contractual control right and—
in relation to a right specified in regulation 3(2)(a), ending on the latest date that the right may be exercised under the contract, after taking account of any provision to extend the initial period of control or any entitlement for the grantee to extend it;
in relation to a right specified in regulation 3(2)(b), ending on the earliest date that the grantor may terminate the contract on the basis that specified contractual conditions have not been satisfied under the contract, after taking account of any provisions to extend the initial period of control or any entitlement for the grantee to extend it;
in relation to a right specified in regulation 3(2)(c), ending on the latest date that the grantor is obliged to offer a right of pre-emption, after taking account of any provision to extend the initial period of control or any entitlement for the grantee to extend it;
in relation to a right specified in regulation 3(2)(d), ending on the earliest of either—
the date that the right expires, after taking account of any provisions to extend the initial period of control or any entitlement for the grantee to extend it; or
any date from which the grantor may terminate the contract, after taking account of any provisions to extend the initial period of control or any entitlement for the grantee to extend it.