The HCA must, so far as practicable, exercise its powers in relation to—
for the purposes of the objects mentioned in section 2(1) or for purposes incidental to those purposes.
But subsection (1) does not apply if the HCA does not consider it appropriate to exercise its powers in this way having regard, in particular, to the purposes for which the transferred property was held by the Commission for the New Towns, the new town development corporation or (as the case may be) the urban development corporation.
In such a case, the HCA must exercise its powers in relation to the transferred property in such a way as it considers appropriate having regard, in particular, to—
and the references in this Part to the objects of the HCA are to be read accordingly.
In this section—
"new town development corporation" means a development corporation established under section 3 of the New Towns Act 1981 (c. 64),
"transferred property" means any property, rights or liabilities, or any undertaking or part of an undertaking, falling within paragraphs (a) to (d) of subsection (1) above.