§ Mr. Heddle
asked the Secretary of State for the Environment (1) what criteria the London residuary body adopt for arriving at a current market value;
(2) what criteria the London residuary body adopts for arriving at an open market value.
§ Dr. Boyson
The criteria for current or open market values are matters for the London residuary body and its professional advisers. Residuary bodies are subject to the duty imposed by section 123 of the Local Government Act 1972 that they must not dispose of land for a consideration less than the best that can reasonably be obtained, except with the consent of the Secretary of State.