CLG has published some easy read non statutory guidance on these provisions which took effect on 21 September 2012. The right for local people to "bid" (often wrongly referred to as the "Community Right to Buy") for property which comes up for sale in the locality was one of the package of measures under the "neighbourhood planning" banner in the Localism Act 2011. 

The concern remains that this may be used as a way to block future development options for landowners, so the commencement of the provisions, including the regulations, will start the ball rolling and in due course we will see how widely the provisions are used, and the extent of property which is listed as of " community value".