s 36 Functions of Welsh Ministers
(1) The Welsh Ministers may— (a) take over and, with a view to its eventual disposal, hold, manage and turn to account— (i) the property of the Commission for the New Towns transferred to them under a scheme made under section 51(1) of the Housing and Regeneration Act 2008; (ii) the property of development corporations transferred to them under this Act; and (iii) the property of urban development corporations transferred to them by order under section 165A of the Local Government, Planning and Land Act 1980; and (b) as soon as they consider it expedient to do so, dispose of property so transferred or any other property arising out of such property. (1A) In exercising their functions under subsection (1), the Welsh Ministers must have regard to the considerations specified in subsection (2). (2) Those considerations, in relation to any new town or urban development area , are— (a) the convenience and welfare of persons residing, working or carrying on business there, and (b) until disposal, the maintenance and enhancement of the value of the land held and the return obtained from it. (3) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (3A) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (4) A transaction between a person and the Welsh Ministers shall not be invalidated by reason of any non-compliance by the Welsh Ministers with the obligation to have regard to the considerations specified in subsection (2) above ... (4A) In this section “urban development area” means land which is or was, or is or was part of, an urban development area (within the meaning of Part XVI of the Local Government, Planning and Land Act 1980) and— (a) any reference to property transferred to the Welsh Ministers by order under section 165A of that Act includes a reference to rights and liabilities so transferred; and (b) in relation to liabilities so transferred, any reference to disposal includes a reference to extinguishment. (5) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .