Where the Secretary of State is satisfied with respect to every part of any area that the number of persons seeking to become tenants there—
(a) of dwelling-houses exceeding a specified rateable value, or
(b) of any class or description of dwelling-house or of dwelling-house exceeding a specified rateable value,
is not substantially greater than the number of such dwelling-houses in that part, he may by order provide that no such dwelling-house in the area shall be the subject of a regulated tenancy or the subject of a protected occupancy or statutory tenancy under the Rent (Agriculture) Act 1976.
An order under this section may contain such transitional provisions, including provisions to avoid or mitigate hardship, as appear to the Secretary of State to be desirable.
The power to make an order under this section shall be exercisable by statutory instrument and no such order shall have effect unless it is approved by a resolution of each House of Parliament.