The Peterborough Development Corporation (Transfer of Property and Dissolution) Order 1988

• Citation: S.I. 1988/1410
• Sections: 6

Section 1

(1) This Order may be cited as the Peterborough Development Corporation (Transfer of Property and Dissolution) Order 1988 and shall come into force on 1st October 1988.

(2) In this Order—

“ the Act ” means the New Towns Act 1981;

“the Corporation” means the Peterborough Development Corporation;

“the transfer date” means 1st October 1988.

Section 2

It is directed that on the transfer date—

(a) the property of the Corporation shall vest in the Commission for the New Towns; and

(b) the Corporation shall cease to act except for the purposes of carrying out its functions under sections 67 , 68 and 70 of the Act (annual accounts of development corporations, audit and reports), and taking such other steps as are necessary to wind up its affairs.

Section 3

For the purpose of ensuring the satisfactory discharge of the functions remaining to the Corporation on and after the transfer date the Commission shall provide the Corporation with all the necessary facilities including, in particular, access to any books, papers or documents which immediately before the transfer date were the property of the Corporation.

Section 4

Any property received by the Corporation on or after the transfer date shall be transferred by the Corporation to the Commission.

Section 5

A period of ten years commencing on the transfer date is hereby specified as the period for which, by virtue of paragraph 3(4) of Schedule 10 to the Act, section 11 of the Act (which relates to the acquisition of land for highways) and, so far as they have effect for the purposes of that section, the other provisions of the Act, shall continue to have effect in relation to the area of Peterborough New Town.

Section 6

It is directed that the Corporation shall be dissolved on 31st December 1988.