Where land has been cleared of buildings in accordance with a clearance order, the local authority may, at any time after the expiration of eighteen months from the date on which the order became operative, by resolution determine to purchase any part of that land which at the date of the passing of their resolution has not been, or is not in process of being, used for building purposes or otherwise developed by the owner thereof in accordance with plans approved by the authority and any restrictions or conditions imposed under subsection (5) of section forty-four of this Act.

Where a local authority have determined to purchase land under this section, they may purchase that land by agreement or they may be authorised to purchase that land compulsorily by a compulsory purchase order made and submitted to the Minister and confirmed by him in accordance with the provisions of Parts I and II of the Third Schedule to this Act.

An order authorising the compulsory purchase of land for the purposes of this section shall be submitted to the Minister within three months after the date of the passing of the resolution to purchase.

The provisions of the Fourth Schedule to this Act shall have effect with respect to the validity and date of operation of a compulsory purchase order made under this section.

A local authority shall deal with any land purchased by them under this section by sale, letting, or appropriation in accordance with the provisions of section forty-seven of this Act.