SCHEDULES
I2SCHEDULE 2 Recipients of Depreciation Payments: Special Cases
Sale and compulsory acquisition
I16
1
Where the interest in the property in question of the person to whom the whole or part of a depreciation payment falls to be paid is the subject of—
a
a contract of sale made before the relevant time; or
b
a notice to treat served before that time under an enactment authorising the compulsory acquisition of the interest,
that payment or that part of that payment shall (subject to sub-paragraph (2) below) be held by that person in trust for the purchaser unless the contract is rescinded or the notice ceases to have effect.
2
Any lien upon that interest to which that person is entitled by virtue of the contract shall extend to that payment or that part of that payment.
3
In the application of sub-paragraph (1) above to Scotland, the reference to the service of a notice to treat includes a reference to the deemed service of such a notice.
Sch. 2 para. 1 wholly in force at 30. 11. 1991 see s. 54(2) and S.I. 1991/2508, art. 2