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(1)A new town corporation's right of nominating tenants under a transfer scheme shall, subject to subsection (2) below, be such right as may be agreed between the parties to the scheme, or (in the case of a scheme made by the Secretary of State under section 46(6) above) as may be determined by him, to nominate tenants for a number or proportion of the dwellings provided (or treated by section 47(6) above as provided) by the district council concerned under Part V of the [1957 c. 56.] Housing Act 1957.
(2)Subject to subsection (3) below, the corporation's right of nominating tenants shall be exercisable during the following period or periods—
(a)where the corporation are a development corporation, a period beginning with the date on which their interest in the transferred dwellings vests in the district council and ending with the date which is the transfer date for the purposes of Schedule 10 to this Act;
(b)where the corporation are the Commission and the dwellings in question were transferred from the development corporation to the district council, a period of 5 years beginning with that transfer date;
(c)where the corporation are the Commission and the dwellings in question were transferred from them to the district council, the period of 5 years beginning with the date on which the Commission's interest in the transferred dwellings vests in the district council.
(3)The Commission and the district council concerned may, with the Secretary of State's consent, agree to substitute a less period for the period of 5 years specified in paragraph (b) or, as the case may be, (c) of subsection (2) above.
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