Cardiff Bay Barrage Act 1993

16 (1) The measure of compensation payable under paragraph 15 above to a claimant shall be the depreciation in the value of his interest which has occurred in consequence of the groundwater damage suffered by the building.

(2) In assessing compensation under paragraph 15 above in relation to an interest—

(a) its value shall be assessed in accordance with rules (2) and (4) of the rules set out in section 5 of the [1961 c. 33.] Land Compensation Act 1961,

(b) reference shall be had to prices current on the relevant day and to the nature of the interest and the condition of the building as at the day on which the claim is received by the Development Corporation,

(c) if the interest is subject to a mortgage or a contract of sale, or is subject to a contract for the grant of a tenancy made after the relevant day, it shall be valued as if not so subject,

(d) there shall be left out of account in assessing the value of the interest any part of the value attributable to any improvement or extension of the building or any related building if the extension, improvement or building had not been occupied or brought into use on the relevant day, and

(e) subsections (2) to (5) of section 5 of the [1973 c. 26.] Land Compensation Act 1973 shall apply.

(3) Subsections (1)(b) and (c), (2) and (3) of section 10 of the Land Compensation Act 1973 shall apply for the purpose of determining the extent to which compensation is payable under this paragraph and the manner in which such compensation is to be applied, dealt with or treated.

(4) If a dispute arises as to whether paragraph 15(3) above applies it shall be determined in accordance with paragraph 25 below; but, subject to that, any dispute arising under paragraph 15 above or this paragraph shall be referred to and determined by the Lands Tribunal.