Moved by
Lord Kennedy of Southwark
57: Clause 62, page 28, line 10, at end insert—
“( ) A grant made under subsection (2) must include a condition that, if the dwelling to which the grant is applied is sold under the right to buy, money equivalent to the market value (disregarding any discount) of the dwelling is spent by the private registered provider on the provision of affordable housing in the same local authority area or London, including at least one new home replacing that sold which is—
(a) of the same tenure, and
(b) located in the same local authority area or London borough,
in accordance with assessed local housing need.”