(1)The Compulsory Purchase (Vesting Declarations) Act 1981 is amended as set out in subsections (2) to (6).
(2)In section 7 (constructive notice to treat), in subsection (1), at the beginning insert “Subject to section 8A,”.
(3)In section 8 (vesting, entry and possession), in subsection (1), for “section” substitute “sections 8A and”.
(4)After section 8 insert—
(1)The acquiring authority may agree in writing with the owner of any interest which is to vest in the authority under section 8 that the interest is to vest on a date after the vesting date.
(2)If such an agreement is in force on the vesting date, sections 7 and 8 operate in relation to the interest as if the vesting date were—
(a)the agreed date, or
(b)any date subsequently agreed under subsection (1).
(3)If an interest subject to an agreement under this section entitles the owner to possession of the land concerned, the right to enter upon and take possession of the land given by section 8 does not arise until the interest vests in accordance with this section.”
(5)In section 10 (compensation), after subsection (1) insert—
“(1A)But if an agreement under section 8A is in force in relation to an interest in the land when the land becomes vested apart from that interest, subsection (1) does not give rise to any liability in relation to the interest until it becomes vested.”
(6)In paragraph 5 of Schedule A1 (definitions for the purposes of the Schedule)—
(a)the existing text become sub-paragraph (1);
(b)in that sub-paragraph, in the definition of “original vesting date”, after “is” insert “, subject to sub-paragraph (2),”;
(c)after that sub-paragraph insert—
“(2)If an agreement under section 8A is in force in respect of the interest which gives the owner the ability to sell the land proposed to be acquired, the “original vesting date” is the date on which the interest is to vest as a result of the agreement.”
(7)In section 5A of the Land Compensation Act 1961 (valuation date)—
(a)in subsection (4), after “date is” insert “, subject to subsection (4A),”;
(b)after subsection (4) insert—
“(4A)If an interest in land vests in accordance with an agreement under section 8A of that Act (postponement of vesting), the relevant valuation date in respect of that interest is the earlier of—
(a)the date on which it vests, and
(b)the date when the assessment is made.”;
(c)in subsection (5B)(b), after “is” insert “, as a result of Schedule A1 to the Compulsory Purchase (Vesting Declarations) Act 1981 (counter-notices in respect of divided land),”.
Commencement Information
I1S. 186 not in force at Royal Assent, see s. 255(7)
I2S. 186 in force at 31.1.2024 by S.I. 2024/92, reg. 2(m) (with reg. 6(2))