Land Development Values (Compensation) Act (Northern Ireland) 1965 (c. 23)

PART I F1 N.I. DEVELOPMENT VALUE OF LAND

F1 rep. with saving by 2001 c. 2 (NI)

2 F2 Meaning of “unrestricted” and “restricted” value. N.I.

(1) Subject to section 3, in this Part—

(a) the unrestricted value of any land is the value that a fee simple absolute in possession in the land would have had on 25th February 1963;

(b) the restricted value of any land is the value that such a fee simple would have had on 25th February 1963 if computed on the assumption that planning permission would have been granted for any development of that land of a class specified in Schedule 1, but would not have been granted for any other development.

(2) Schedule 2 shall have effect for the purpose of specifying the general classes referred to in paragraph 6 of Schedule 1.

F2 rep. with saving by 2001 c. 2 (NI)