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LAND DEVELOPMENT VALUES (COMPENSATION) ACT (NORTHERN IRELAND) 1965 - SECT 2

Meaning of ""unrestricted'' and ""restricted'' value.

2.(1) Subject to section 3, in this Part

(a)the unrestricted value of any land is the value that a fee simple absolute
in possession in the land would have had on 25th February 1963;

(b)the restricted value of any land is the value that such a fee simple would
have had on 25th February 1963 if computed on the assumption that planning
permission would have been granted for any development of that land of a class
specified in Schedule 1, but would not have been granted for any other
development.

(2) Schedule 2 shall have effect for the purpose of specifying the general
classes referred to in paragraph 6 of Schedule 1.

© 1965 Crown Copyright

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