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Agriculture Act 1986
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There are currently no known outstanding effects for the Agriculture Act 1986, Paragraph 5.
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5(1)The amount of the payment to which the tenant of any land is entitled under paragraph 1 above on the termination of his tenancy shall be determined in accordance with the following provisions of this paragraph.E+W
(2)The amount of the payment to which the tenant is entitled under paragraph 1 above in respect of allocated quota shall be an amount equal—
(a)in a case where the allocated quota exceeds the standard quota for the land, to the value of the sum of—
(i)the tenant’s fraction of the standard quota, and
(ii)the amount of the excess;
(b)in a case where the allocated quota is equal to the standard quota, to the value of the tenant’s fraction of the allocated quota; and
(c)in a case where the allocated quota is less than the standard quota, to the value of such proportion of the tenant’s fraction of the allocated quota as the allocated quota bears to the standard quota.
(3)The amount of the payment the tenant is entitled to under paragraph 1 above in respect of transferred quota shall be an amount equal—
(a)in a case where the tenant bore the whole of the cost of the transaction by virtue of which the transferred quota was transferred to him, to the value of the transferred quota; and
(b)in a case where the tenant bore only part of that cost, to the value of the corresponding part of the transferred quota.
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