(1) In this section -

'qualifying premises', in relation to a person, means a building or part of a building, or an interest in a building or a part of a building -

(a) in which there is one or more residential units,

(b) in respect of which the person is entitled to a rent or to receipts from any easement, and

(c) in respect of which all the requirements of the Regulations are complied with;

'Regulations' means -

(i) the Housing (Standards for Rented Houses) Regulations, 1993 (S.I. No. 147 of 1993),

(ii) the Housing (Rent Books) Regulations, 1993 (S.I. No. 146 of 1993), and

(iii) the Housing (Registration of Rented Houses) Regulations, 1996, as amended by the Housing (Registration of Rented Houses) (Amendment) Regulations, 2000 (S.I. No. 12 of 2000);

'replacement premises', in relation to a person, means a building or part of a building, or an interest in a building or a part of a building -

(a) which the person acquires with the consideration obtained by the person from the disposal of a qualifying premises,

(b) in which the number of residential units is -