Regulations made under this Act by the Secretary of State and F1the Secretary of State for Energy with the consent of the Treasury may direct that any of the provisions of this Act specified in Part I of Schedule 19 to this Act or of section 212 of this Act being provisions relating to statutory undertakers and to land of such undertakers, shall apply, subject to such adaptations, modifications and exceptions as may be specified in the regulations, in relation to the F2British Coal Corporation, and in relation to land (including mines) of F2that Corporation of any such class as may be specified in the regulations, as if F2the Corporation were statutory undertakers and as if land of any class so specified were operational land.

Without prejudice to the generality of subsection (1) of this section, any regulations made thereunder may in particular provide that any compensation payable to the F2British Coal Corporation by virtue of any of the provisions applied by the regulations, being compensation which, in the case of statutory undertakers, would be assessable in accordance with the provisions of section 227 of this Act, shall, instead of being assessed in accordance with that section, be assessed in accordance with the provisions of the regulations.