Schedule 1B, paragraph 4

The court may give a direction under this paragraph if, on application by any person aggrieved, the court is satisfied that a restrictions notice issued by the company under paragraph 1 unfairly affects the rights of third parties in respect of the relevant interest. The direction is given for the purpose of protecting those third party rights. The direction is a direction that certain acts will not constitute a breach of the restrictions placed on the relevant interest by the restrictions notice. An order containing a direction under this paragraph— must specify the acts that will not constitute a breach of the restrictions, and may confine the direction to cases where those acts are done by persons, or for purposes, described in the order. The direction may be given subject to such terms as the court thinks fit.

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Source: legislation.gov.uk · retrieved 2026-09-04