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