Dermot Ahern (Louth, Fianna Fail)

This amendment makes it clear that a reversion is the residue of ownership which remains after the grant of a lease. The normal conveyancing practice in cases of apartments has been to grant a long lease to the purchaser with a freehold reversion being vested in the owner's management company, of which the purchaser is also a shareholder.

Amendment agreed to.

Government amendment No. 11:

In page 4, subsection (1), to delete lines 19 to 21, and substitute the following:

" "unit" means a residential unit in a multi-unit development;".

Amendment agreed to.