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Paragraph 5 Condition 4

Original text. Later amendments are not shown.

Condition 4 is that the following criteria are met—

(a)

the first sale of the dwelling is for no more than 70% of its market value (where the market value at any time is the price that the dwelling might reasonably be expected to fetch if sold at that time on the open market), and

(b)

a planning obligation has been entered into prior to the first sale of the dwelling designed to ensure that any subsequent sale of the dwelling is for no more than 70% of its market value.