5(1)The provisions of this paragraph shall have effect in the case of an assignation of one or more claim holdings to the Central Land Board to which neither of the two last preceding paragraphs applies.
(2)Any claim holding comprised in the assignation with an area of which every part either consisted of, or formed part of, the land in respect of which some development charge covered by the assignation was determined shall be allocated to the development charge in question or, if more than one, to those development charges collectively.
(3)Any claim holding comprised in the assignation with an area part of which did, and part of which did not, consist of, or form part of, such land as aforesaid shall be treated as if, at the time of the assignation, the claim holding (in this sub-paragraph referred to as " the parent holding ") had been divided into two separate claim holdings, that is to say—
(a)a claim holding with an area consisting of so much of the area of the parent holding as consisted of, or formed part of, such land as aforesaid and with a value equal to that fraction of the value of the parent holding which then attached to that part of the area of the parent holding ; and
(b)a claim holding with an area consisting of the residue of the area of the parent holding and with a value equal to that fraction of the value of the parent holding which then attached to the residue of the area of the parent holding,
and the claim holding referred to in head (a) of this sub-paragraph shall be allocated to the development charge in question, or, if more than one, to those development charges collectively.
(4)Paragraph 3 or 4 of this Schedule shall then apply in relation to each claim holding, if any, allocated in accordance with the two last preceding sub-paragraphs to any development charge, or to any development charges collectively, as if the assignation had comprised only that claim holding and had covered only that development charge or those development charges.
(5)If after the application of the preceding provisions of this paragraph there remains outstanding any claim holding not allocated in accordance with those provisions or any claim holding so allocated which has been reduced in value but not extinguished, an amount equal to the aggregate of—
(a)the unpaid balance of any development charge covered by the assignation to which no claim holding was allocated as aforesaid; and
(b)the amount, if any, by which the value of any claim holding allocated as aforesaid which is deemed to have been extinguished falls short of the unpaid balance of the development charge, or the aggregate of the unpaid balances of the development charges, to which it was so allocated,
shall be deducted from the value of the claim holding so remaining outstanding, or, if more than one, shall be deducted rateably from the respective values of those claim holdings, and the value of any such holding shall be deemed to have been reduced accordingly as from the time of the assignation.