5(1)The committee may agree on behalf of themselves and all other parties interested in the commonable and other rights, and all such parties shall be bound by the agreement.E+W
(2)The committee may receive the compensation agreed to be paid, and the receipt of the committee, or of any three of them, shall be an effectual discharge for the compensation.
(3)The compensation when received shall be apportioned by the committee among the several persons interested, according to their respective interests, and the acquiring authority shall not be bound to see the apportionment or to the application of the compensation, nor shall they be liable for the misapplication or nonapplication of the compensation.
(4)If the committee fail to agree with the acquiring authority as to the amount of the compensation it shall be referred to and determined by the Lands Tribunal.