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1(1)Subject to sub-paragraphs (2) to (4) below, the development corporation shall dispose of any land which it has acquired—E+W
(a)which falls within the excluded land; and
(b)which the corporation does not require for purposes connected with the development of the new town or for the provision of services for the purposes of the new town.
(2)The duty mentioned in sub-paragraph (1) above shall not be performed so as to dispose of land by way of . . . F1, mortgage or charge.
(3)A corporation shall not without the Secretary of State’s consent (given generally or specially) perform the duty so as—
(a)to transfer the freehold of land; or
(b)to grant a lease of land for a term of more than 99 years [F2or
(c)to dispose of any land by way of gift.]
(4)A corporation shall comply with such directions as the Secretary of State may give—
(a)for preventing the duty from being performed; or
(b)for restricting the duty; or
(c)for requiring it to be performed in a manner specified in the directions.
(5)Before giving a direction under sub-paragraph (4) above, the Secretary of State shall consult the corporation, unless he is satisfied that because of urgency consultation is impracticable.
(6)Where a corporation purports to dispose of land by virtue of this paragraph, then—
(a)in favour of a person claiming under the corporation, the disposal so purporting to be made shall not be invalid by reason that any consent of the Secretary of State required under this paragraph has not been given or that any direction of his given under this paragraph has not been complied with; and
(b)a person dealing with the corporation, or a person claiming under the corporation, shall not be concerned to see or enquire whether any such consent has been given or whether any such direction has been given or complied with.
(7). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . F3
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