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(1)The Secretary of State for the Environment and the Secretary of State for Energy may by regulations made with the consent of the Treasury direct that any of the provisions specified in Part I of Schedule 16 or of section 264 relating to statutory undertakers and to land of such undertakers—
(a)shall apply to the British Coal Corporation as if it were a statutory undertaker; and
(b)shall apply to land (including mines) of that Corporation of any such class as may be specified in the regulations as if it were operational land.
(2)Such regulations may apply those provisions subject to such adaptations, modifications and exceptions as may be specified in the regulations.
(3)Without prejudice to the generality of subsection (2), where such regulations apply any provisions by virtue of which any compensation is payable to the British Coal Corporation which if it were payable to statutory undertakers would be assessable in accordance with the provisions of section 280, they may provide for an alternative basis of assessment.
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