The Assets of Community Value (England) Regulations came into force on 21 September 2012.
The regulations implement the assets of community value scheme ('the scheme') set out in part 5 of the Localism Act 2011. They cover the procedure for listing land at the local authority that is of community value and the procedure for reviewing and appealing decisions to list land. They also set out what land cannot be listed as being of community value and contain provisions on compensation and community interest groups. The regulations apply to England only.
The scheme requires a local authority to maintain a list of buildings and other land in its area which are of community value. The owner of listed land is prohibited from disposing (as defined in the legislation) of that land unless certain conditions are met. This include a moratorium on disposal for up to six months.
Solicitors can find out whether land is listed as an asset of community value by searching the local land charges register.
View the regulations