A local housing authority in England that keeps a Housing Revenue Account must consider selling its interest in any higher value housing that has become vacant.
The duty in subsection (1) applies only in relation to housing that appears in the list in section 74(1) of the Local Government and Housing Act 1989 (Housing Revenue Account).
The Secretary of State may by regulations exclude housing from the duty in subsection (1).
In discharging its duty under subsection (1) a local housing authority must have regard to any guidance given by the Secretary of State.