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LAND DEVELOPMENT VALUES (COMPENSATION) ACT (NORTHERN IRELAND) 1965 - SECT 3

Basis of calculation of restricted and unrestricted values of land.

3.(1) In determining the value which a fee simple absolute in possession in
any land would have had on 25th February 1963 it shall be assumed that such a
fee simple was offered for sale

(a)in the open market;

(b)with vacant possession;

(c)with the benefit of any restrictive covenant, easement, quasi-easement, or
other right which enured for the benefit of the fee simple in the land
immediately before the passing of this Act;

(d)subject to

(i)any restrictive covenant, easement, quasi-easement, or other right enuring
for the benefit of other land;

(ii)any public right of way or other right enuring for the benefit of the
public or any section thereof; and

<(iii)any restriction imposed by or under any statutory provision;


(d)to which the fee simple in the land was subject immediately before the
passing of this Act; but

(e)free from any other incumbrance, and without regard to any liability of the
land to become subject after the passing of this Act to any restriction under
any statutory provision;

(2) For the purposes of this Part, the value of a fee simple absolute in
possession in any land shall be calculated by reference to prices current
immediately before 26th February 1963.

(3) In computing the restricted and unrestricted values of a fee simple
absolute in possession subject to a mortgage it shall be assumed that the
mortgage has been discharged.

(4) Where at the date of the passing of this Act

(a)planning permission to develop any land has been granted (whether with or
without conditions) in pursuance of an application for planning permission
made before 26th February 1963; but

(b)the development for which the permission was granted has not been initiated
or has not been completed;

(5) Where, at the date of the passing of this Act

(a)a planning decision given in pursuance of an application for planning
permission made before 26th February 1963 refuses planning permission to carry
out any new development in or on any land, or grants such permission subject
to conditions; or

(b)planning permission to carry out any such development (granted in pursuance
of an application for such permission made before 26th February 1963) has been
revoked or modified by an order made under section 3 of the Act of 1944;

(6) Where by virtue of Part II any compensation becomes payable under that
Part by reference to a date occurring before the passing of this Act, the
foregoing provisions of this section shall have effect as if for any reference
to the passing of this Act there were substituted a reference to that date.

(7) In computing the restricted and unrestricted values of any land for the
purposes of this Part, rules (2) to (4) of the rules set out in section 2 of
the Acquisition of Land (Assessment of Compensation) Act 1919 shall, so far as
applicable, have effect as they have effect for the purpose of assessing
compensation for the compulsory purchase of land, so, however, that rule (3)
of the said rules shall not have effect in relation to any land which is held
by any person in order that he may develop that land for the purposes of any
trade or business carried on by him on any adjoining land.

(8) Land shall be taken not to have a development value if the amount of the
excess of the unrestricted value of the land over the restricted value of the
land is less than ten per cent. of the restricted value of the land.

© 1965 Crown Copyright

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