PART 8London
CHAPTER 2Mayoral development corporations
Land functions
209Restrictions on disposal of land
1
An MDC may not dispose of land for less than the best consideration which can reasonably be obtained unless the Mayor consents.
2
Subsection (1) does not apply to a disposal by way of a short tenancy if the disposal consists of—
a
the grant of a term of not more than 7 years, or
b
the assignment of a term which, at the date of assignment, has not more than 7 years to run.
3
An MDC may not dispose of land which has been compulsorily acquired by it under this Chapter unless the Mayor consents.
4
Subject to subsections (1) to (3), an MDC may dispose of land held by it in any way it considers appropriate.