# The Local Authorities (Capital Finance) Regulations 1997, Regulation 109: Disposal of land in exchange for nomination rights

Extent: E+W
Status: prospective

(1) In this regulation, “dwelling” has the extended meaning which it has in regulation 22(1).
(2) 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—
(a) 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
(b) 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.

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Source: https://www.legislation.gov.uk/uksi/1997/319/regulation/109 (the official version)
Page: https://openlegislation.uk/local-authorities-capital-finance-regulations-1997/regulation-109
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.