1In the Act of 1965 (hereinafter in this Schedule referred to as “the Act”) for section 7 (which relates to compensation) there shall be substituted the following:—
“7(1)In assessing the compensation to be paid by the Company under this Act regard shall be had not only to the extent, if any, to which the value of the land in, over or under which the right is purchased is depreciated by the purchase but also to the damage, if any, to be sustained by the owner of the land by reason of injurious affection of other land of the owner by exercise of the right.
(2)The modifications subject to which subsection (1) of section 44 of the [1973 c. 26.] Land Compensation Act 1973 is to have effect, as applied by subsection (2) of that section to compensation for injurious affection under this section, are that for the words ‘land is acquired or taken’ there shall be substituted the words ‘a right in, over or under land is purchased’ and for the words ‘acquired or taken from him’ there shall be substituted the words ‘in, over or under which the right is exercisable’.”.