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2In the case of the interest of the lessor under any lease, there shall be calculated the capital value, as at the time immediately before the relevant date, of the right to receive a sum equal to the unexpended balance of established development value of the relevant area at that time, but payable at the expiration of the lease; and the amount so calculated in the case of any such interest is in this Schedule referred to as " the reversionary development value " of that interest.
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