C5C3PART 8London

Annotations:

C1C5C3C4C2C6C7C8CHAPTER 2Mayoral development corporations

Annotations:

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.