Paragraph 3

(1)

A right contained in a contract which is held exclusively for purposes that do not relate to future development resulting in the provision of—

(a)

one or more dwelling-houses, or

(b)

a building where the floorspace created by the development is 100 square metres or more.

(2)

In sub-paragraph (1)—

(a)

“development” has the same meaning as in section 55 of the Town and Country Planning Act 1990^f1,

(b)

“dwelling-houses” includes flats.

Annotations

f1: 1990 c. 8; section 55 was amended by sections 13 and 14 of, and paragraph 9 of Schedule 6 to, the Planning and Compensation Act 1991 (c. 34), by section 49(1) of, and Schedule 9 to, the Planning and Compulsory Purchase Act 2004 (c. 5), and S.I. 1999/293.