FundingE+W+S
34.—(1) The undertaker must not exercise the powers conferred by the provisions referred to in paragraph (2) in relation to any Order land unless it has first put in place either—
(a)a guarantee, and the amount of that guarantee has been approved by the Secretary of State in respect of the liabilities of the undertaker to pay compensation pursuant to the provisions referred to in paragraph (2); or
(b)an alternative form of security, and the amount of that security for that purpose has been approved by the Secretary of State in respect of the liabilities of the undertaker to pay compensation pursuant to the provisions referred to in paragraph (2).
(2) The provisions are—
(a)article 19 (compulsory acquisition of land);
(b)article 22 (compulsory acquisition of rights);
(c)article 23 (private rights);
(d)article 25 (acquisition of subsoil only);
(e)article 28 (temporary use of land for carrying out the authorised development);
(f)article 29 (temporary use of land for maintaining the authorised development); and
(g)article 30 (statutory undertakers).
(3) A guarantee or alternative form of security given in respect of any liability of the undertaker to pay compensation pursuant to the provisions referred to in paragraph (2) is to be treated as enforceable against the guarantor or person providing the alternative form of security by any person to whom such compensation is payable and must be in such a form as to be capable of enforcement by such a person.
(4) Nothing in this article requires a guarantee or alternative form of security to be in place for more than 15 years after the date on which the relevant power is exercised.
Commencement Information
I1Art. 34 in force at 10.3.2022, see art. 1