HC Deb 22 November 1954 vol 533 cc970-1

Lords Amendment agreed to: In page 39, line 32, leave out "the relevant land, taken as a whole" and insert: any of the relevant land, Lords Amendment: In line 35, leave out from "to" to end of line 46 on page 40 and insert: section thirty-five of this Act, there shall be added to the compensation payable in respect of the acquisition of the relevant interest apart from the provisions of this section—

  1. (a) where the relevant interest is the only interest (other than excepted interests) subsisting at that time in any of the relevant land which has such a balance—
    1. (i) if the restricted value of the relevant interest is a minus quantity, an amount equal to so much, if any, of that balance at that time as remains after the deduction therefrom of an amount equal to the minus quantity or
    2. (ii) in any other case, an amount equal to that balance at that time;
    or
  2. (b) where the relevant interest is one of two or more interests (other than excepted interests) so subsisting, an amount equal to so much of that balance at that time as is ascertained in accordance with the provisions of the Schedule (Apportionment of Unexpended Balance of Established Development Value) to this Act to be attributable to the relevant interest;
Provided that, in a case where the relevant interest is the interest of the lessee under a lease, no payment shall be made by virtue of this section if the person entitled to the relevant interest is, at the time immediately before the service of the notice to treat, prohibited by the terms of his lease from carrying out any new development of the relevant land. (2) Regulations made under this section shall provide".

Commander Galbraith

I beg to move, "That this House doth agree with the Lords in the said Amendment."

This Amendment and the next Amendment, in page 41, line 8, and the new Schedule fall to be read together. The Amendments appear to be extensive, but there is no real change in the basic principles established in the present Clause. Their main object is to do away with the need for a set of regulations and thus make the Bill more self-contained. In effect, a Schedule takes the place of a set of regulations.

Mr. Lawson

I wish to refer to (a, 1) which says: if the restricted value of the relevant interest is a minus quantity, an amount equal to so much, if any, of that balance at that time as remains after the deduction therefrom of an amount equal to the minus quantity I am wondering whether that minus quantity ought to be preceded by the word "capitalisation." What is done here is the finding over a period of time what the minus quantity will amount to which will mean the capitalisation of the minus quantity.

Commander Galbraith

The hon. Gentleman need not be concerned about that. I do not think that he is correct.

Question put, and agreed to. [Special Entry.]

Subsequent Lords Amendment agreed to: In page 41, line 8, at end insert: (3) References in this section to the restricted value of an interest in land, in relation to an acquisition of that interest, are references to the amount which, for the purposes of Part V of the principal Act, would have been taken to be the restricted value of that interest on the appointed day if—

  1. (a) the date of the service of the notice to treat had been appointed as the appointed day for the purposes of the said Part V;
  2. (b) references to the seventh day of January, nineteen hundred and forty-seven, in subsection (5) of section fifty-eight of the principal Act (which requires values to be calculated by reference to prices current immediately before that day) were references to the date of the acquisition; and
  3. (c) references in the said section fifty-eight to the Third Schedule to the principal Act were references to that Schedule as amended by this Act. —[Special Entry.]