Town and Country Planning Act 1962

206 Settled land, and land of universities and colleges

(1) The purposes authorised for the application of capital moneys—

(a) by section seventy-three of the Settled Land Act, 1925, and by that section as applied by section twenty-eight of the Law of Property Act, 1925, in relation to trusts for sale, and

(b) by section twenty-six of the Universities and College Estates Act, 1925,

and the purposes authorised by section seventy-one of the Settled Land Act, 1925, by that section as so applied, and by section thirty-one of the Universities and College Estates Act, 1925, as purposes for which moneys may be raised by mortgage, shall include the payment of any sum recoverable under section one hundred and thirteen, section one hundred and twenty-two or section two hundred and eight of this Act.

(2) The purposes authorised, as mentioned in the preceding subsection, for the application of capital moneys and as purposes for which moneys may be raised by mortgage, shall include the discharge of any sum payable in respect of a development charge under Part VII of the Act of 1947, being a sum determined by the Central Land Board as a capital payment or as an instalment of capital.

(3) The classes of works specified in Part II of the Third Schedule to the Settled Land Act, 1925 (which specifies improvements which may be paid for out of capital money, subject to provisions under which repayment out of income may be required to be made) shall include works specified by the Minister as being required for properly maintaining a building in relation to which a building preservation order is in force, and which is settled land within the meaning of that Act.