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5.—(1) Where a right to compensation arises, in consequence of the acquisition or vesting of any land within the excluded area by or in the development corporation under Part XVI of the Local Government, Planning and Land Act 1980 (urban development), the development corporation shall be liable for any compensation which is payable.
(2) Where a right to compensation arises under Part I of the Land Compensation Act 1973(1) (compensation for depreciation caused by use of public works) in relation to any land within the excluded area, in consequence of any action taken by the development corporation in the development area, the development corporation shall be liable for any compensation which is payable.
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