Part 2Compulsory purchase etc
CHAPTER 2Other provisions relating to compulsory purchase
40Interest on payments to mortgagee paid late
1
Section 52B of the Land Compensation Act 1973 (interest on advance payments of compensation paid late) is amended as follows.
2
In the heading, after “compensation” insert “etc.
3
In subsection (1)—
a
after “(1B)” insert “
, 52ZA(3) or 52ZB(3)
”
,
b
after “compensation” insert “
or (as the case may be) a payment to a mortgagee
”
, and
c
after “interest” insert “
to the claimant
”
.
4
In subsection (2), after “(4ZA)” insert “
or (as the case may be) section 52ZC(3A) or (3B)
”
.
5
In subsection (3)—
a
for “the amount of the advance payment” substitute “
the total amount which the acquiring authority pays under section 52, 52ZA or 52ZB in respect of the claimant (the “paid amount”)
”
, and
b
for “by which the advance payment” substitute “
by which the paid amount
”
.