(1) Subject to subregulation (3), a residence contract must include the terms set out in Part A of Schedule 5 and is taken to include those terms.
(2) Subject to subregulation (3), a management contract must include the terms set out in Part B of Schedule 5 and is taken to include those terms.
(3) If under this regulation, a term is required to be included in and is taken to be included both in a residence contract and in a management contract and, as a matter of law or contract, that term is applicable to only one of those contracts, the term need not be included in, nor is it to be taken to be included in, the other contract.
(4) This regulation does not derogate from any term implied by law into a residence contract or management contract.