ABSTRACT
To achieve the object of regeneration within the designated area, it is critical that an UDC has the ability to own and dispose of land. To achieve this, the Secretary of State may by an order (s 141), vest land in the Development Corporation which is controlled by a local authority, statutory undertaker, or any other public body. Such an order requires the approval by resolution by both Houses of Parliament (s 141(6)), and has the same effects as a declaration under Part III of the Compulsory Purchase (Vesting Declarations) Act 1981. Compensation is paid on the basis of values current at the date of vesting (s 141(5) and Sched 27).
