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(1)With a view to assisting in the making of long-term improvements for the benefit of agricultural land the Minister may make out of moneys provided by Parliament grants towards the cost of such improvements of a kind mentioned in the Second Schedule to this Act as he may approve for that purpose, being improvements proposed in applications made to him within ten years from the commencement of this Part of this Act or such further time as may be allowed by an order under subsection (5) of this section.
(2)An application under this section may be made by any person having an interest in the land for the benefit of which such an improvement is proposed or by any person intending to acquire such an interest if the improvement is approved, and shall contain such particulars as the Minister may require.
(3)An application under this section may propose more than one improvement and the Minister may, as he thinks fit, either refuse to approve a proposed improvement or approve it in whole or in part and subject to any conditions he may specify; but he shall not approve any improvement unless he is satisfied—
(a)that the land for the benefit of which the improvement is proposed is agricultural land occupied together with buildings and is capable of yielding a sufficient livelihood to an occupier reasonably skilled in husbandry, or will be capable of doing so as a result of the improvement; and
(b)that the cost of the improvement will not be unreasonably high in relation to the benefit to be derived therefrom; and
(c)that the improvement is of such a nature that a prudent landlord, having regard to its cost and to all other circumstances, would be willing to make it himself or to pay compensation (whether or not he was liable under any enactment to do so) to a tenant for making it.
(4)The Ministers may from time to time by order vary the Second Schedule to this Act, but without prejudice to the payment of any grant towards the cost of an improvement approved before the coming into operation of the order.
(5)The Ministers may from time to time by order extend the time within which applications under this section may be made, but not beyond twelve years from the commencement of this Part of this Act.
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