Where the landlord of an agricultural holding has carried out on the holding any improvement to which this section applies he may by notice in writing served on the tenant within six months from the completion of the improvement increase the rent of the holding as from the completion of the improvement by an amount equal to the increase in the rental value of the holding attributable to the carrying out of the improvement.
This section applies to—
No increase of rent shall be made under subsection (1) above in respect of an improvement within paragraph (a), (b) or (f) of subsection (2) above if within six months from its completion the landlord and tenant agree on any increase of rent or other benefit to the landlord in respect of the improvement.
The increase in rent provided for by subsection (1) above shall be reduced proportionately—
Where, on the failure of a landlord to carry out an improvement specified in such a direction as is referred to in subsection (2)(b) above, the tenant has himself carried out the improvement, the provisions of this section shall apply as if the improvement had been carried out by the landlord and as if any grant made to the tenant in respect of the improvement out of money provided by Parliament had been made to the landlord.
No increase in rent shall take effect by virtue of subsection (5) above until the tenant has recovered from the landlord the reasonable cost of the improvement reduced by the amount of any grant made to the tenant in respect of the improvement out of money provided by Parliament.
Any dispute arising between the landlord and the tenant of the holding under this section shall be determined by arbitration under this Act.
Notwithstanding subsection (7) above, the landlord and the tenant may instead refer the dispute for third party determination under this Act.
This section applies to an improvement whether or not it is one for the carrying out of which compensation is provided under Part V or VI of this Act.