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3. Where, on or after the operative date, an old authority requires to dispose of any land or buildings or enter into any contract, for which the consent of any new authority is required under section 51 of the 1994 Act, such consent shall be deemed to have been obtained provided that—
(a)any such new authority whose consent is required has not held its first meeting(1); and
(b)it is the opinion of the old authority that it cannot properly perform its statutory functions if the disposal or, as the case may be, the entering into of the contract is delayed until that new authority has held its first meeting.
Under paragraph 5(1) of Schedule 5 to the Local Government Act 1972 (as substituted by section 3 of, and Schedule 3 to, the 1994 Act) each new authority is required to hold its first meeting within 21 days immediately following the day of election, which is 4th May 1995.
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