(1)The Commission shall pay, as compensation to existing owners for the acquisition of their interests, sums ascertained in accordance with the provisions of this and the next succeeding section in respect of all coal and mines of coal, of all acquired property and rights, and of all rights to withdraw support that are to vest in the Commission under Part II of the Second Schedule to this Act.
(2)The compensation shall be ascertained separately in accordance with the next succeeding section in respect of—
(a)all the said matters in respect of which compensation is to be payable, with the exception of—
(i)minerals or substances other than bituminous coal, cannel coal or anthracite, and property and rights annexed to any such minerals or substances and not to any such coal or anthracite or to a mine thereof, and
(ii)surface servitudes,
which matters are in this Act referred to as " principal coal hereditaments " ;
(b)the matters within the exception aforesaid, in this Act referred to as " subsidiary coal hereditaments."
(3)The aggregate amount of the compensation payable in respect of all principal coal hereditaments shall be the sum of sixty-six million, four hundred and fifty thousand pounds.
(4)The Central Valuation Board established under the Third Schedule to this Act shall prepare and deposit with the Board of Trade a map showing a division of the whole of Great Britain into regions (in this Act referred to as " valuation regions "), and shall allocate to each valuation region a part (in this Act referred to as a " regional allocation") of the said sum of sixty-six million four hundred and fifty thousand pounds, being a part bearing the same proportion to the whole of that sum as they may estimate the value of all principal coal hereditaments in the region to bear to the value of all principal coal hereditaments in Great Britain.