96.—(1) The following provisions have effect as to compensation under regulation 30 (compensation for effect of byelaws) in respect of land in England and Wales.
(2) Any dispute arising on a claim for any such compensation shall be determined by the Lands Tribunal.
(3) For the purposes of any such reference to the Lands Tribunal, section 4 of the Land Compensation Act 1961 (which relates to costs) has effect with the substitution for references to the acquiring authority of references to the authority from whom the compensation in question is claimed.
(4) Rules (2) to (4) of the Rules set out in section 5 of that Act (which provides rules for valuation on a compulsory acquisition) apply to the calculation of any such compensation, in so far as it is calculated by reference to the depreciation of the value of an interest in land.
(5) In the case of an interest in land subject to a mortgage–
(a)any such compensation in respect of the depreciation of that interest shall be calculated as if the interest were not subject to the mortgage;
(b)a claim or application for the payment of any such compensation may be made by any person who when the byelaws giving rise to the compensation were made was the mortgagee of the interest, or by any person claiming under such a person, but without prejudice to the making of a claim or application by any other person;
(c)a mortgagee shall not be entitled to any such compensation in respect of his interest as such; and
(d)any compensation payable in respect of the interest subject to the mortgage shall be paid to the mortgagee or, where there is more than one mortgagee, to the first mortgagee, and shall in either case be applied by him as if it were proceeds of sale.
Commencement Information
I1Reg. 96 in force at 30.10.1994, see reg. 1(2)