204 Housing action trust's right of first refusal
Housing Act 2004 (2004 c 34) | Legislation

204  Housing action trust's right of first refusal

(1)     After paragraph 2 of Schedule 11 to the Housing Act 1988 insert—

“Right of first refusal for housing action trust

2A

(1)     This paragraph applies where, on the disposal of a house under section 79 of this Act, a discount is given to the purchaser by the housing action trust in accordance with a consent given by the Secretary of State under subsection (1) of that section and that consent does not exclude the application of this paragraph.

(2)     On the disposal, the conveyance, grant or assignment shall contain the following covenant, which shall be binding on the purchaser and his successors in title.

(3)     The covenant shall be to the effect that, until the end of the period of ten years beginning with the conveyance, grant or assignment, there will be no relevant disposal which is not an exempted disposal, unless the prescribed conditions have been satisfied in relation to that or a previous such disposal.

(4)     In sub-paragraph (3) “the prescribed conditions” means such conditions as are prescribed by regulations under this section at the time when the conveyance, grant or assignment is made.

(5)     The Secretary

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