2(1)In the case of a person who on the date of displacement is occupying, or is treated for the purposes of paragraph 1 above as occupying, the dwelling-house by virtue of an interest in it which is an owner’s interest, the amount of the home loss payment shall be the aggregate of—
(a)10 per cent. of the value of his interest in the dwelling-house or, as the case may be, the interest in the dwelling-house vested in trustees, subject to a maximum of £15,000 and a minimum of £1,500; and
(b)his reasonable expenses in removing from the dwelling-house.
(2)In the case of any other person, the amount of the home loss payment shall be the aggregate of £1,500 and his reasonable expenses in removing from the dwelling-house.
(3)The Secretary of State may from time to time by regulations prescribe a different maximum or minimum for the purposes of sub-paragraph (1)(a) above and a different amount for the purposes of sub-paragraph (2) above.
(4)In this paragraph any reference to the value of an interest in the dwelling-house shall be taken to be a reference to the value of that interest immediately before the deterioration in the condition of the dwelling-house; and paragraph 2 of Schedule 1 to this Act shall apply for the purpose of determining that value as it applies for the purpose of determining the value of a unit of property at any time for the purposes of section 10 or 11 of this Act.
(5)In this paragraph “owner’s interest” means—
(a)in relation to a dwelling-house situated in England and Wales, the interest of a person who is an owner as defined in section 7 of the [1981 c. 67.] Acquisition of Land Act 1981; or
(b)in relation to a dwelling-house situated in Scotland, the interest of a person who is an owner as defined in section 45(1) of the [1963 c. 51.] Land Compensation (Scotland) Act 1963.