Exemption U/s 54 after partition of HUF

Dear all,

One of my clients (a HUF) has sold a property in Dec 09. he has deposited the proceeds in Capital Gain Accounts scheme and has claimed exemption U/s 54. now he has entered into an agreement to purchase a Flat and paid few instalments.

Now, the HUF is to be partitioned. My questions are

1. the deposits are transfered to member/s of HUF and they in turn get that property registered in their names then whether the claim U/s 54 will sustain?

2. Or, HUF will purchase the property and after that HUF will be partitioned and house is transfered to member/s. Whether such transfer will violate the provisions of 54.

Please clarify.