s 7 Failure to accept landlord’s offer or to make nomination.
(1) Where a landlord has served an offer notice on the qualifying tenants of the constituent flats and— (a) no acceptance notice is duly served on the landlord, or (b) no person is nominated for the purposes of section 6 during the protected period, the landlord may, during the period of 12 months beginning with the end of that period, dispose of the protected interest to such person as he thinks fit, but subject to the following restrictions. (2) Where the offer notice was one to which section 5B applied (sale by auction), the restrictions are— (a) that the disposal is made by means of a sale at a public auction, and (b) that the other terms correspond to those specified in the offer notice. (3) In any other case the restrictions are— (a) that the deposit and consideration required are not less than those specified in the offer notice, and (b) that the other terms correspond to those specified in the offer notice. (4) The entitlement of a landlord, by virtue of this section or any other corresponding provision of this Part, to dispose of the protected interest during a specified period of 12 months extends only to a disposal of that interest, and accordingly the requirements of section 1(1) must be satisfied with respect to any other disposal by him during that period of 12 months (unless the disposal is not a relevant disposal affecting any premises to which at the time of the disposal this Part applies).