(1)Subject to subsection (2), the Ministry may dispose of any land acquired by the Ministry under section 4 for the purposes of a new town to such persons, in such manner, and on such terms or conditions as the Ministry considers expedient for securing the development of the new town.
F1[(1A)Where at any time it appears to the Department that any land acquired by the Department under section 4 for the purposes of a new town is no longer required by the Department for that purpose, the Department may, subject to subsection (2), dispose of that land to such persons, in such manner and on such terms or conditions as the Department thinks fit.]
(2)[F2 Subsection (1)] shall not enable the Ministry to dispose of any land gratuitously, or at either a price or rent other than the best obtainable, or on terms other than the best obtainable, except with the approval of the Ministry of Finance.
(3)Section 5 of the Stormont Regulation and Government Property Act (Northern Ireland) 1933 [1933 c.6] (which contains provisions with respect to the disposal of land by government departments) shall not apply to the disposal of any land under this section.