Regulation 109 Disposal of land in exchange for nomination rightsI1
England and Wales Not yet in force
In this regulation, “dwelling” has the extended meaning which it has in regulation 22(1).
In the case of non-monetary consideration received in respect of a disposal of an area of land, the amount falling to be set aside under section 61(4) in respect of the consideration shall be nil where the consideration consists of—
the grant of a right to nominate a person either to occupy a dwelling situated within that area, or to acquire the freehold of, or a leasehold interest in, such a dwelling; or
an undertaking to allow only persons of a particular description to occupy a dwelling situated within that area, or acquire the freehold of, or a leasehold interest in, such a dwelling.
Annotations
Commencement
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Reg. 109 in force at 1.4.1997, see reg. 1(1)(b)