Third party rights relating to landU.K.
6F1(1). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .U.K.
(2)In this paragraph “relevant land right” means any of the following rights relating to land—
(a)a right of reverter (or, in Scotland, the right of the fiar on the termination of a liferent),
(b)a right of pre-emption,
(c)a right of forfeiture,
(d)a right of re-entry,
(e)a right of irritancy,
(f)an option, and
(g)a right similar to anything falling within paragraphs (a) to (f).
(3)A relevant land right shall have effect, in the case of the transfer effected by virtue of section 62, as if—
(a)[F2the original holding company] were the same person in law as the Post Office, and
(b)no transfer of the land had taken place.
(4)Such compensation as is just shall be paid by [F2the original holding company] to any person in respect of any relevant land right which would, apart from sub-paragraphs (1) to (3), have operated in favour of, or become exercisable by, that person but which, in consequence of the operation of those sub-paragraphs, cannot subsequently operate in his favour or (as the case may be) become exercisable by him.
(5)Any dispute as to whether, or how much, compensation is payable or about the person to whom it is payable shall be referred to and determined by—
(a)an arbitrator appointed by the President of the Royal Institution of Chartered Surveyors (if the proceedings are to be held in England and Wales),
(b)an arbiter appointed by the Chairman of the Royal Institution of Chartered Surveyors in Scotland (if the proceedings are to be held in Scotland), or
(c)an arbitrator appointed by the [F3Chairman of the Royal Institution of Chartered Surveyors in Northern Ireland] (if the proceedings are to be held in Northern Ireland).
Textual Amendments
F1Sch. 3 para. 6(1) omitted (1.10.2011) by virtue of Postal Services Act 2011 (c. 5), s. 93(2)(3), Sch. 12 para. 52(2); S.I. 2011/2329, art. 3
F2Words in Sch. 3 substituted (1.10.2011) by Postal Services Act 2011 (c. 5), s. 93(2)(3), Sch. 12 para. 52(3); S.I. 2011/2329, art. 3
F3 Words in Sch. 3 para. 6(5)(c) substituted (3.4.2006) by Constitutional Reform Act 2005 (c. 4) , s. 148(1) , Sch. 4 para. 292(2) ; S.I. 2006/1014 , art. 2(a) , Sch. 1 para. 11(x)