Functions and dissolution of the Commission for the New Towns
1 Change in functions of Commission.
1
Sections 36 and 37 of the M1New Towns Act 1981 (which define the Commission’s basic function of holding and turning to account new town property transferred to it and its other powers) shall be amended as provided in subsections (2) to (4) below.
2
For section 36(1)
and (2) there shall be substituted the following subsections—
1
The purposes for which the Commission exists are—
a
to take over and, with a view to its eventual disposal, to hold, manage and turn to account the property of development corporations transferred to the Commission under this Act, and
b
as soon as it considers it expedient to do so, to dispose of property so transferred and any other property held by it,
due regard being had to the considerations specified in subsection (2) below.
2
Those considerations, in relation to any new town, are—
a
the convenience and welfare of persons residing, working or carrying on business there, and
b
until disposal, the maintenance and enhancement of the value of the land held and the return obtained from it.
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