17.—(1) Subject to paragraph (3), the level crossing specified in columns (1) and (2) of Schedule 6 (replacement and closure of level crossing) is stopped up and discontinued.
(2) Subject to paragraph (3), upon the stopping up and discontinuance of the level crossing referred to in paragraph (1), any right of way over it is extinguished.
(3) Paragraphs (1) and (2) do not take effect with respect to the level crossing specified in Schedule 6 until the new way to be substituted for it, which is specified in column (4) of that Schedule, has been constructed and completed to the reasonable satisfaction of the highway authority, such approval not to be unreasonably withheld, and is open for use.
(4) Any person who suffers loss by the suspension or extinguishment of any private right of way under this article is entitled to compensation to be determined, in case of dispute, under Part 1 of the 1961 Act.