For regulation 34(4) (apportionment of liability), substitute—

“(4)

For the purposes of paragraph (2)—

(a)

the value of a material interest is the price that it might reasonably be expected to obtain if sold on the open market on the day the apportionment takes place; and

(b)

the valuation shall assume that the chargeable development has been completed on the day before the apportionment takes place.”