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SCHEDULES

SCHEDULE 12Unexpended Balance of Established Development Value

Adjustment of claim holdings: supplementary provisions

11(1)Where in accordance with any of paragraphs 5 to 10 a part of the benefit of an established claim constituted a separate claim holding, the interest in land to which that claim holding related—

(a)if the established claim related to the fee simple of the claim area, shall be taken to have been the fee simple of the area of the claim holding;

(b)if the established claim related to a leasehold interest, shall be taken to have been that leasehold interest in so far as it subsisted in the area of the claim holding.

(2)Where in accordance with any of those paragraphs a claim holding (in this sub-paragraph referred to as “the parent holding”) is to be treated as divided into two or more claim holdings, a person who was the holder of one of those holdings shall be treated as having been the holder of it at any time when he was the holder of the parent holding.

(3)In paragraphs 5 to 10 and this paragraph expressions used in the relevant provisions (within the meaning of paragraph 9(5)) have the same meanings as in those provisions.

(4)In paragraphs 5 to 10 and this paragraph “the holder”, in relation to a claim holding, means—

(a)the person for the time being entitled to the holding, or

(b)in the case of a holding subject to a mortgage made otherwise than by way of assignment, the person who would for the time being have been entitled to the holding if it had not been mortgaged.