Under consideration
Series: Estates Gazette ; (0126) 30 June 2001, 158(1)Publication details: 2001Subject(s): Summary: Looks at the Local Government Act 1972 s123 which places a statutory duty on local authorities to obtain the best price for land, except where the SoS gives consent for a disposal at undervalue. An aggrieved party may even submit a higher bid under s123 after a local authority has decided to dispose of the land to the highest bidder, although it may be rejected under para 5 of the general consents contained in the Act. The local authority is also under no obligation to dispose of the land if it does not wish to do so, but if a challenge is brought for failure to comply with s123 then the purchaser is only protected, under s128(2) of the Act, where the sale or transfer has been completed.| Item type | Current library | Call number | Copy number | Status | Barcode | |
|---|---|---|---|---|---|---|
| Journal article | London Journal article | ABS64185 (Browse shelf(Opens below)) | 1 | Available | 113598-1001 |
Looks at the Local Government Act 1972 s123 which places a statutory duty on local authorities to obtain the best price for land, except where the SoS gives consent for a disposal at undervalue. An aggrieved party may even submit a higher bid under s123 after a local authority has decided to dispose of the land to the highest bidder, although it may be rejected under para 5 of the general consents contained in the Act. The local authority is also under no obligation to dispose of the land if it does not wish to do so, but if a challenge is brought for failure to comply with s123 then the purchaser is only protected, under s128(2) of the Act, where the sale or transfer has been completed.