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The Development Board for Rural Wales (Transfer of Housing Stock) Regulations 1993

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Requirement to make proposals and the terms of disposal

3.—(1) As soon as practicable after the Secretary of State has given it a notice requiring it so to do, the Board shall make proposals for disposing of its housing stock in accordance with these Regulations.

(2) The Board may at any time prior to the Secretary of State giving his consent to a proposed transfer under section 172(4) of the 1989 Act vary the proposals made in respect of that transfer under paragraph (1).

(3) The proposals shall provide that relevant property is to be transferred with the dwellings to which it relates, or separately from those dwellings.

(4) Subject to the provisions of these Regulations, the disposals shall be on terms agreed between the Board and the transferees, and, without prejudice to the generality of the foregoing, those terms may provide:—

(a)for payments to be made by instalments; and

(b)that the Board be paid a proportion of any future receipts from the sale of dwellings under part V of the Housing Act 1985 or from such other disposals as the Board may specify.

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