1(1)The three next following paragraphs shall have effect where an interest in land was compulsorily acquired by a public authority possessing compulsory purchase powers in pursuance of a notice to treat served on or after the date of the passing of the principal Act and before the first day of July, nineteen hundred and forty-eight, and the compensation paid did not exceed the amount provided for by section fifty-five of the principal Act (which provided for compensation on the basis of the existing use value of the land).
(2)The said paragraphs shall also have effect where an interest in land was purchased by such an authority in pursuance of a contract made on or after the date of the passing of the principal Act and before the said first day of July, at a price which did not exceed the amount of the compensation which would have been payable in accordance with the said section fifty-five if the transaction had been a compulsory acquisition.
(3)In those paragraphs the expression " the relevant land " means the land an interest in which was acquired or purchased as mentioned in either of the preceding sub-paragraphs, and the expression " the relevant interest" means the interest which was so acquired or purchased.
2Where any works for the erection or alteration of a building had been begun but not completed on the relevant land before the day on which the notice to treat was served or the contract made, as the case may be, subsection (3) of section seventy-eight of the principal Act (which provides that the development value of land containing unfinished buildings shall be calculated as if the buildings were completed) shall not apply for the purpose of determining the development value of the relevant interest.
3Where after the notice to treat was served or the contract made, as the case may be, the Minister issued in respect of the relevant land or any part thereof a certificate under section eighty of the principal Act (which, as respects land certified as ripe for development before the said first day of July, provides that the prospective value of the development for which the land was ripe shall be disregarded), the development value of the relevant interest shall be determined as if the certificate had not been issued.
4Where the acquisition or purchase was not completed until after the said first day of July, but before that day the acquiring authority had carried out on the relevant land works for the erection or alteration of a building; or had on the relevant land constructed roads or provided sewers or other services, the provisions of subsection (2) of section ninety-one of the principal Act (which makes special provision as to compulsory acquisitions initiated and completed between the passing of that Act and the first day of July, nineteen hundred and forty-eight), and those provisions as applied by subsection (4) of that section (which relates to acquisitions by agreement by public authorities), shall apply as if they extended to acquisitions completed after the said first day of July in pursuance of a notice to treat served, or a contract made, after the passing of the principal Act but before that day:
Provided that where the acquiring authority had carried out on the relevant land any such operations as aforesaid before the service of the notice to treat, or the making of the contract, as the case may be, those provisions shall so apply as if, in paragraph (a) of the said subsection (2), the reference to the state of the land as it was immediately before the date of the notice to treat were a reference to the state of the land immediately before those operations were begun.
5Subsection (3) of section ninety-one of the principal Act (which requires development values to be adjusted where an interest in land is compulsorily acquired), and that subsection as applied by subsection (4) of that section, shall not apply to any acquisition of an interest in land in pursuance of a notice to treat served, or a contract made, after the commencement of this Act.