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Land Compensation Act 1961
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Changes over time for: Cross Heading: Mortgaged land
Version Superseded: 22/09/2017
Alternative versions:
- 01/02/1991- Amendment
- 25/09/1991- Amendment
- 01/12/1991
Point in time - 22/09/2017- Amendment
Status:
Point in time view as at 01/12/1991.
Changes to legislation:
Land Compensation Act 1961, Cross Heading: Mortgaged land is up to date with all changes known to be in force on or before 16 November 2024. There are changes that may be brought into force at a future date. Changes that have been made appear in the content and are referenced with annotations.
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[ Mortgaged landE+W
F14E+WSubject to the provisions of this Schedule relating to settled land, where, in a case falling within section 23(1) of this Act, the interest in land which was acquired or sold was subject to a mortgage, any reference (however expressed) in section 23 or section 24 of this Act to the person entitled to the compensation or purchase price shall be construed as a reference to the person who, subject to the mortgage, was entitled to that interest, and not as a reference to the mortgagee.
Textual Amendments
F1Sch. 3 paras. (1-8) inserted (25.9.1991) by Planning and Compensation Act 1991 (c. 34, SIF 28:1), s. 66, Sch. 14 para. 2 (with s. 84(5)); S.I. 1991/2067, art. 3
F25E+WFor the purposes of the application of section 23 of this Act, and of the provisions of this Schedule other than this paragraph, to a case falling within the preceding paragraph, any reference to the principal amount of the compensation which was or would have been payable in respect of any compulsory acquisition shall be construed as a reference to the principal amount of the compensation which would have been payable if the interest in question had not been subject to a mortgage.
Textual Amendments
F2Sch. 3 (paras. 1-8) inserted (25.9.1991) by Planning and Compensation Act 1991 (c. 34, SIF 28:1), s. 66, Sch. 14 para. 2 (with s. 84(5)); S.I. 1991/2067, art. 3
F36E+WNo compensation shall be payable by virtue of section 23 of this Act in respect of a compulsory acquisition or sale by agreement where the interest acquired or sold was the interest of a mortgagee (as distinct from an interest subject to a mortgage).]
Textual Amendments
F3Sch. 3 (paras. 1-8) inserted (25.9.1991) by Planning and Compensation Act 1991 (c. 34, SIF 28:1), s. 66, Sch. 14 para. 2 (with s. 84(5)); S.I. 1991/2067, art. 3
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