Community Right to Bid - Assets of Community Value
The aim of the right is to give local groups/people a right to nominate a building or other land for listing by the Local Authority as an asset of community value. The main principles of the Right are set out in Part 5 Chapter 3 of the Localism Act 2011 (Sections 87 -102). Furthermore, The Assets of Community Value (England) Regulations 2012 state the procedure Local Authorities need to have in place when dealing with potential assets. However what the legislation does not do is specify how the Right should be administrated by individual Local Authorities.
You can view the 'Assets of Community Value Policy' in the Supporting Documents section.