Infrastructure (Wales) Act 2024

Compensation for depreciation: introduction and key terms

2 (1) Paragraphs 3 to‍ 9 apply where compensation becomes payable by the Welsh Ministers under paragraph 1 which includes compensation for depreciation of more than the minimum amount specified in regulations.

(2) In this paragraph and paragraphs 3 to 10—

(a) “acquiring authority”, in relation to the acquisition or proposed acquisition of an interest in land (whether compulsorily or by agreement), means the public authority or other person by whom the interest is acquired or is proposed to be acquired;

(b) “compulsory acquisition” does not include the transfer of property from one person to another by an enactment;

(c) “compensation for depreciation” means compensation payable in respect of loss or damage consisting of depreciation of the value of an interest in land;

(d) “interest in land” means the fee simple or a tenancy of the land (and does not include any other interest in it);

(e) “compensation notice” has the meaning given in paragraph 4(1);

(f) “registered”, in relation to a compensation notice, means registered in the local land charges register kept under section 3 of the Local Land Charges Act 1975 (c. 76).