Explanatory note

These Regulations amend the New Towns (Transfer of Housing Stock)Regulations 1990 (which make provision requiring the transfer of newtown housing stock). They provide that where a new town corporationtransfer housing stock to the district council in whose area it issituated, the stock is to be treated as having been acquired by thecouncil under Part II of the Housing Act 1985, save in certain specifiedcircumstances. They also make further provision about the statement bythe prospective landlord which is required to be approved by thetransferring corporation and to be sent to all tenants. The corporationmay now approve a statement which they consider to be misleading orinaccurate in some particular; but require an additional correctivestatement prepared by them to be sent with it. The Regulations alsospecify additional assumptions upon which any valuation of the housingstock is to be made in relation to the rents of tenancies, of certaindwellings, subsisting at the date of transfer of the stock.