115Compensation
(1)It is hereby declared that where, under section 110 above, or Schedule 10 to this Act, a compulsory purchase order is to be treated as made under Part V of the Housing Act 1957 or Part VI of the [1971 c. 78.] Town and Country Planning Act 1971 compensation for the compulsory acquisition of the land comprised in the compulsory purchase order is to be assessed in accordance with the provisions applying to a compulsory acquisition under the said Part V (or, as the case may be, the said Part VI).
(2)Where under section 110 above, or Schedule 10 to this Act, land or any interest in land within a clearance area is to be treated as appropriated by a local authority to the purposes of the said Part V, compensation for its compulsory acquisition shall (where it increases the amount) be assessed or reassessed in accordance with the provisions applying to a compulsory acquisition under the said Part V.
(3)Where under section 111 above or Schedule 10 to this Act, any interest in land acquired by a local authority by agreement (after the declaration of the clearance area) is to be treated as appropriated for the purposes of the said Part V—
(a)compensation shall (where subsection (2) above would have increased the amount) be assessed and paid as if the acquisition were a compulsory acquisition, under the said Part III, to which subsection (2) applied, but
(b)there shall be deducted from the amount of compensation so payable any amount previously paid in respect of the acquisition of that interest by the authority.
(4)Where subsection (2) or subsection (3) above applies, the local authority shall serve on the person entitled to the compensation a notice in the prescribed form giving particulars of the amount of compensation payable in accordance with the provisions applying to a compulsory acquisition under the said Part V, and if the person served does not within twenty-one days from service of the notice accept the particulars, or if he disputes the amount stated, the question of disputed compensation shall be referred to the Lands Tribunal.
(5)The notice shall be served not later than six months after (as the case may be)—
(a)the relevant date as defined in section 110 above, or
(b)confirmation of the rehabilitation order,
and section 30 of the [1965 c. 56.] Compulsory Purchase Act 1965 (service of notices) shall apply to the notice.
(6)Subsection (2) above shall be left out of account in considering whether under section 22 of the Compulsory Purchase Act 1965 compensation has been properly paid for the land; and accordingly subsection (2) above shall not prevent an acquiring authority from remaining in undisputed possession of the land.
(7)Where subsection (2) above makes an increase in compensation to be assessed in accordance with Schedule 2 to the Compulsory Purchase Act 1965 (absent and untraced owners)—
(a)a deed poll executed under paragraph 2(2) of that Schedule before the latest date for service of a notice under subsection (5) above shall not be invalid because the increase in compensation had not been paid, and
(b)it shall be the duty of the local authority not later than six months after the said date to proceed under the said Schedule 2 and pay the proper additional amount into court.
(8)In Scotland where subsection (2) makes an increase in compensation to be assessed in accordance with sections 56 to 60 and 63 of the [1845 c. 19.] Lands Clauses (Consolidation) (Scotland) Act 1845 (provisions dealing with absent and untraced owners)—
(a)a notarial instrument executed under section 76 of that Act before the latest date for service of a notice under subsection (4) above shall not be invalid because the increase in compensation had not been paid and
(b)it shall be the duty of the local authority not later than six months after the said date to proceed under the said sections and pay the proper additional amount into the Bank.
(9)Any sum payable by virtue of this section shall carry interest at the rate prescribed under section 32 of the [1961 c. 33.] Land Compensation Act 1961 from the time of entry by the local authority on the land, or from vesting of the land or interest, whichever is the earlier, until payment.
(10)In this section references to an increase in compensation shall be read as if payments under—
(a)sections 60 and 61 of and Schedule 2 to the Act of 1957 (payments in respect of well-maintained houses and payments to owner-occupiers),
(b)section 63(1) of the Act of 1957 or section 30 of the Land Compensation Act 1961 (allowances to persons displaced),
(c)section 68 of and Schedule 5 to the [1969 c. 33.] Housing Act 1969 (payments to owner-occupiers and others in respect of unfit houses purchased or demolished), and
(d)section 37 of the [1973 c. 26.] Land Compensation Act 1973 (disturbance payments for persons without compensatable interests),
and any extra-statutory payments made by way of additional compensation were, to the extent that they were made to the person holding the interest in question, compensation in respect of the compulsory purchase.
(11)In this section "prescribed" means prescribed by order made by the Secretary of State for the purposes of this section; and any order under this subsection shall be contained in a statutory instrument which shall be subject to annulment in pursuance of a resolution of either House of Parliament.