30. (1) Where following an application under section 29 the Minister intends to designate a dwelling as a cost rental dwelling he or she shall provide the owner with a document in the prescribed form setting out the basis on which the Minister proposes to designate the dwelling and including the following information:

(a) particulars identifying the dwelling;

(b) a statement of the minimum period;

(c) a statement of the initial maximum rent;

(d) an assent to the registration of the cost rental designation as a burden on or act affecting the dwelling on behalf of the owner;

(e) such further particulars as may be prescribed.

(2) Where the owner is satisfied to proceed with the designation, the owner shall execute the document in such manner as may be prescribed and return it to the Minister within such period as may be prescribed, whereupon the Minister shall complete the designation by applying his or her seal to the document.

(3) The dwelling specified in the cost rental designation shall stand designated as a cost rental dwelling from the date on which it is sealed by the Minister.

(4) As soon as practicable after it is sealed by the Minister, a copy of the cost rental designation shall be furnished to the owner of the dwelling concerned and to any person who gave consent to the application under section 29(3)(c).

(5) A cost rental designation shall be registrable in the Registry of Deeds as an act of the owner affecting the cost rental dwelling and, as the case may be, in the Land Registry as a burden on any folio in which the cost rental dwelling or any part thereof is registered and where the Minister seals a cost rental designation under subsection (2), the Minister shall, as soon as practicable thereafter, cause it to be so registered in the Registry of Deeds or the Land Registry, or both, as appropriate.

(6) The Minister shall keep a record of all cost rental designations.