Compensation payable in respect of land of another local authority in pursuance of a compulsory purchase under—

• section 17 (provision of housing),

• . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . F1,

• section 290 (acquisition of land for clearance), or

• section 300 (purchase of condemned house for temporary housing use)

which would otherwise be paid into court in accordance with Schedule 1 to the Compulsory Purchase Act 1965 (purchase from persons not having power to dispose) may, if the Secretary of State consents, instead be paid and applied as he may determine.