Regulation 4 Functions of oversight authority

(1)

The oversight authority for a locally-led new town is to exercise the functions of the appropriate national authority under section 39(1) to (3) of the 1981 Act^f1 and those provisions have effect subject to paragraph (2), as if—

(a)

references to the appropriate national authority were references to the oversight authority, and

(b)

reference to concurrence of the Treasury were omitted.

(2)

Where a local authority which makes an agreement under section 39 of the 1981 Act with the development corporation is the oversight authority section 39 has effect as if—

(a)

in subsection (1), the references to approval of the appropriate national authority and concurrence of the Treasury were omitted; and

(b)

in subsection (2) and (3), the references to the appropriate national authority approving an agreement were references to the local authority making an agreement.

Annotations

Footnotes

f1: 1981 c.64. Section 39(1) to (3) was amended by Schedule 5 to the Housing and Regeneration Act 2008.