Overview

This bill mandates that specified UK public bodies sell unused or underused assets via public auction. The aim is to improve efficiency and potentially generate revenue for the government.

Description

The Public Bodies (Disposal of Assets) Bill compels central government departments, their agencies (including trading funds), non-departmental public bodies, NHS bodies, and public corporations to annually declare unused tangible fixed assets (land, buildings, machinery valued above a Treasury threshold) that have been unused for more than a year. These assets must then be sold at public auction. The Secretary of State can extend these provisions to include underutilized assets via statutory instrument, subject to parliamentary approval.

Government Spending

The bill will result in government expenditure to cover the Secretary of State's costs in implementing the act, as well as any increase in expenditure stemming from other acts. Exact figures are not provided in the bill.

Groups Affected

• Central Government Departments: Required to declare and auction off unused assets.
• Executive Agencies (including trading funds): Required to declare and auction off unused assets.
• Non-Departmental Public Bodies: Required to declare and auction off unused assets.
• NHS Bodies: Required to declare and auction off unused assets.
• Public Corporations: Required to declare and auction off unused assets.
• Potential buyers of assets: Will have the opportunity to purchase assets at public auction.

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