Complex sentence: The Act was amended in 2001 to close a loophole related to condominium conversion, where owners of apartment buildings obtained certificates for conversion, to avail themselves of a state law exemption to rent control law, without actually selling any of such apartments as condominiums.
Split into simpler sentences: The Act was amended in 2001 to close a loophole related to condominium conversion. It prevented owners of apartment buildings, who obtained a certificate for conversion, to avail themselves of the Act's exemption to rent control law, without actually selling any of such apartments as condominiums.