(1)This section applies where, in pursuance of any enactment providing for the acquisition or taking of possession of land compulsorily, any person (referred to in this section and in sections 57 and 58 of and Schedule 8 to this Act as “an acquiring authority”) acquires the interest of the tenant in, or takes possession of, an agricultural holding or any part of an agricultural holding or the holding of a statutory small tenant.
(2)Subject to subsection (3) below and sections 57 and 58 of this Act, where this section applies section 54 of this Act shall apply as if the acquiring authority were the landlord of the holding and compensation for disturbance in respect of the holding or part in question had become payable to the tenant on the date of the acquisition or taking of possession.
(3)No compensation shall be payable by virtue of this section in respect of an agricultural holding held under a tenancy for a term of 2 years or more unless the amount of such compensation is less than the aggregate of the amounts which would have been payable by virtue of this section if the tenancy had been from year to year: and in such a case the amount of compensation payable by virtue of this section shall (subject to section 57(4) of this Act) be equal to the difference.