With the arrival of the Localism Act, we can see the final shape of the provisions on "Assets of Community Value" (or the Community Right to Bid (CRB) provisions as we prefer to call them). These are found in sections 87-108 in Chapter 3 of Part 5 to the Act.
However, these provisions are not fully in force yet and will only be at a later date to be specified by the Secretary of State. The provisions, which give power to the Secretary of State to make further regulations, are in force. In the context of CRB, these regulations will provide further detail on, for example, the form of the local authority's list of assets (including how amendments will be made to it) and could specify assets or type of assets which will not be considered as of community value. It is hoped the Secretary of State will not delay in bringing forward such regulations so we can build up a complete picture of how the CRB provisions will work.
What is useful, is that section 103 (and section 104 in relation to Wales) is already in force which states that the Secretary of State "may" (not "must") provide advice or assistance to anyone taking steps (or preparing to take steps) in relation to the CRB. Therefore, anyone with a concern over the operation of these provisions (eg, landowners unsure if an asset is of community value) could perhaps use this section to seek clarification from the Secretary of State before the provisions come fully into force.