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Forestry Act 1967
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43 Satisfaction of certain contingent liability to Crown Estate.E+W+S
(1)If the Minister sells land which was transferred to him, or to any predecessor of his, or to the Commissioners, under section 1(1)(a) of the M1Forestry (Transfer of Woods) Act 1923 to an amount exceeding [F12 hectares] at any one time, then if the sum determined under section 3 of the said Act of 1923 as the amount contingently payable by way of compensation for the transfer of rights and interests of the Crown has not been fully paid or satisfied,—
(a)the net proceeds of sale, or the portion necessary to satisfy the said sum, shall be paid by the Minister to the Crown Estate Commissioners and shall form part of the Crown Estate; and
(b)the payment shall be treated as satisfying a part of that sum equal to the gross proceeds of sale or the corresponding portion of them.
(2)[F2If section 1 of the Sovereign Grant Act 2011 ceases to have effect ], there shall be paid out of [F3the Consolidated Fund] to the Crown Estate Commissioners all such amounts as immediately before the commencement of this Act remained outstanding as compensation due to the Crown under section 3 of the said Act of 1923, reduced by the amount of any payments made since that commencement to the Crown Estate Commissioners pursuant to subsection (1) above or to the corresponding provision in section 8(1) of the M2Crown Estate Act 1961.
Textual Amendments
F1Words substituted by Forestry Act 1979 (c. 21, SIF 54), s. 2(1), Sch. 1
F2Words in s. 43(2) substituted (1.4.2012) by Sovereign Grant Act 2011 (c. 15), s. 15(1), Sch. 1 para. 18(a)
F3Words in s. 43(2) substituted (1.4.2012) by Sovereign Grant Act 2011 (c. 15), s. 15(1), Sch. 1 para. 18(b)
Marginal Citations
M21961 c. 55(29:7)
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