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The New Towns (Transfer of Housing Stock) Regulations 1990

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Requirement to make proposals

3.—(1) As soon as practicable after the Secretary of State has given them a notice requiring them so to do, a new town corporation shall make proposals for disposing of their housing stock in accordance with these Regulations.

(2) The corporation may at any time vary the proposals made under paragraph (1).

(3) Subject to the provisions of these Regulations, the disposals shall be on terms agreed between the corporation and the transferees, and, without prejudice to the generality of the foregoing, those terms may provide—

(a)for payments to be made by instalments; and

(b)that the corporation be paid a proportion of any future receipts from the sale of dwellings under Part V of the Housing Act 1985 or from such other disposals as the corporation may specify.

(4) The proposals shall provide that relevant property is to be transferred with dwellings to which it relates, or separately from those dwellings.

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