Regulation 3

replace paragraph (5) with —“(5) Paragraphs (2), (3) and (4) do not apply where the sale, transfer, assignment or disposal mentioned in those paragraphs is a relevant transaction and a continued charge is constituted or an undertaking is deemed under section 21C(1)(d) or (2) of the Act (as the case may be) as a result of the sale, transfer, assignment or disposal.”;

in paragraph (7), in the definition of “relevant amount”, in paragraph (a), replace sub‑paragraph (i) with —“(i)the amount which the spouse of the member —

has given an undertaking to refund to the Board under section 15AB(3) or (4) of the Act or a former provision; or

is deemed to have given an undertaking to refund to the Board under section 21C(2) or 21D(1) of the Act,in the event the house or flat is sold or otherwise disposed of; over”;

in paragraph (7), in the definition of “relevant amount”, in paragraph (b), replace sub‑paragraph (i) with —“(i)the amount payment of which was secured by all of the charges on the house or flat mentioned in section 27DA(1)(b) of the Act; over”; and

in paragraph (7), in the definition of “relevant amount”, in paragraph (c), replace sub‑paragraph (i) with —“(i)the amount payment of which was secured by all of the charges on the house or flat mentioned in section 27DB(1)(b) of the Act; over”.