Town and Country Planning (Scotland) Act 1954

1 In this Schedule the following expressions have the following meanings respectively—

• " the compensation " means compensation such as is mentioned in paragraph (a) of section thirty-seven of this Act ;

• " the interest affected " means the interest in respect of which the compensation falls to be assessed, in so far as that interest subsists in land, other than the relevant land, which is affected by the injurious act or event;

• " the land affected " means the land in which the interest affected subsists;

• " the injurious act or event " means the act or event in consequence of which the compensation falls to be assessed ;

• " other interest affected " means an interest other than the interest affected which subsists in the whole or part of the land affected and in respect of which compensation such as is mentioned in paragraph (a) of section thirty-seven of this Act is payable by virtue of the injurious act or event;

• " qualified land " means land which immediately before the injurious act or event has an unexpended balance of established development value ;

• " the loss of development value " means the amount, if any, by which the value of the interest affected immediately before the injurious act or event, if calculated on the assumption that, until such time as the land affected might reasonably be expected to become ripe for new development, no use whatever could be made of that land, would exceed the value of that interest immediately after that act or event if calculated on the like assumption;

• " the loss of immediate value " means the amount, if any, by which the difference in the value of the interest affected immediately before and immediately after the injurious act or event exceeds the loss of development value;

• " the depreciation in restricted value ", in relation to an interest, means the amount, if any, by which the value of the interest, immediately after the injurious act or event, would be less than the value of that interest immediately before the act or event, if both values were calculated on the assumption that planning permission would be granted for development of any class specified in the Third Schedule to the principal Act but would not be granted for any other development.