All private rights of way over land which may be acquired compulsorily under section 2 of this Act shall be extinguished on the acquisition of the land, whether compulsorily or by agreement, or on the entry on the land in pursuance of section 11(1) of the Compulsory Purchase Act 1965, as applied by section 2 of this Act, whichever is the sooner.

A person who suffers loss by the extinguishment of a right under this paragraph shall be entitled to compensation to be determined, in case of dispute, under and in accordance with Part I of the M1Land Compensation Act 1961.