The M2Land Compensation Act 1961 shall, in its application to the acquisition of land under the new towns code, have effect subject to any adaptations necessary to make it apply to such an acquisition and subject to the following provisions of this paragraph.

The Lands Tribunal shall not take into account any interest in land, or any enhancement of the value of any interest in land, by reason of any building erected, work done or improvement or alteration made, whether on the land acquired or any other land with which the claimant is, or was at the time of the erection, doing or making of the building, works, improvement or alteration, directly or indirectly concerned, if the Lands Tribunal is satisfied that the creation of the interest, the erection of the building, the doing of the work, the making of the improvement or the alteration, as the case may be, was not reasonably necessary and was undertaken with a view to obtaining compensation or increased compensation.

The provisions of Part II of Schedule 1 shall not have effect with regard to paragraph 3 and (so far as applicable) 3A of Part I of that Schedule (disregard of value of certain development in new town areas) where the development corporation established for the purposes of a new town ceases to act on being dissolved by an order under section 3(2)(a) of this Act.

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