OpenLegislation

Regulation 84 Nature of disposal of interest in landI1

England and Wales Not yet in force

Changes not yet applied. Later legislation changes this provision in ways not yet written into the text below:

For the purposes of this Part, a disposal of an interest in land meets the condition specified in this regulation if—

(a)

the authority make the disposal by conveying the freehold interest in the land, granting a lease for a term of not less than 125 years, or assigning their entire leasehold interest in the land; and

(b)

where the interest disposed of is a lease, the authority estimate that not less than 90 per cent. of the capital value of the lease has been, or is to be, received by them within one year after the date of the disposal.

Annotations

Commencement

I1

Reg. 84 in force at 1.4.1997, see reg. 1(1)(b)