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Land Development Values (Compensation) Act (Northern Ireland) 1965

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19F1Further provisions as to calculation of depreciation.N.I.

(1)For the purpose of calculating in accordance with section 18 the value of a compensatable estate subsisting in any relevant land on the basis that the relevant decision had been a decision to the contrary effect, the following provisions shall have effect:—

(a)where a person entitled to a compensatable estate in the relevant land is also at the date of a relevant decision entitled to a compensatable estate in any other land, the value of the first-mentioned compensatable estate shall be reduced by the amount, if any, by which the value of the second-mentioned compensatable estate would be depreciated if any development permitted by a decision to the contrary effect to the relevant decision were carried out; and

(b)the value of the compensatable estate in the relevant land shall be reduced by the amount, if any, of any loss in the nature of disturbance in respect of the purposes for which the relevant land was being used at the date of the relevant decision which would necessarily be involved if any development permitted by a decision to the contrary effect were carried out.

(2)Where a compensatable estate in any land is vested in any trustees or in the beneficiaries under a settlement, then the trustees or beneficiaries shall not, for the purposes of subsection (1), be taken to be entitled to a compensatable estate in any other land unless that other land and the relevant land are held on trust or settled under the same instrument or series of instruments.

(3)In this section “relevant decision” has the same meaning as in section 18 and “relevant land” means land to which a relevant decision relates.

F1rep. with saving by 2001 c. 2 (NI)

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