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8.(1) In this Part any reference to the development value of land is, subject to the following provisions of this Part, a reference to the value which is determined to be the development value of the land under Part I. (2) For the purposes of this Part, land shall be taken to have a development value if, and only if, either (a)the land consists of a valued area and of no other land; or (b)the land consists of part of a valued area and of no other land. (3) For the purposes of this Part, the development value of part of a valued area shall be so much of the amount of the development value of the land which forms that area as might reasonably have been attributed to that part if the Ministry had been required to apportion it between that part and the residue of the valued area in accordance with sections 1 to 3, but so that the aggregate of the development values of all the parts of a valued area shall equal the development value of that area. Subs.(3A) inserted by 1972 NI 17 art.96 which was rep. by 1973 NI 21 art.72(2) sch.3 (4) In this section ... "valued area" means any land in respect of which, in pursuance of a Part I application, a development value is determined to exist.
© 1965 Crown Copyright
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