Clause 1 - Meaning of ``residential property'' and other expressions
Homes Bill
5:15 pm
Mr Nick Raynsford (Minister of State, Department of the Environment, Transport and the Regions; Greenwich and Woolwich, Labour)
The obligations apply where properties are being sold. There is an equity element when such a property is sold and it is my understanding that the provisions would bite. I will take further advice, because shared ownership can take several different forms and I do not want to mislead the Committee by giving a blanket response. Subject to considering the issue more thoroughly, I think that, in principle, the answer that I have given is correct and that the provisions will cover the circumstances my hon. Friend describes.