Where statutory undertakers are entitled to compensation—
or the operator of an electronic communications code network is entitled to compensation as mentioned in section 279(3), the amount of the compensation shall (subject to section 281) be an amount calculated in accordance with this section.
Subject to subsections (4) to (6), that amount shall be the aggregate of—
In subsection (2) "the appropriate amount for loss of profits" means—
Where a business adjustment is made, the aggregate amount mentioned in subsection (2) shall be reduced by such amount (if any) as appears to the Upper Tribunal to be appropriate to offset—
Where a business adjustment is made the aggregate amount mentioned in subsection (2) shall be further reduced by any amount which appears to the Upper Tribunal to be appropriate, having regard to any increase in the capital value of immoveable property belonging to the statutory undertakers or the operator which is directly attributable to the adjustment, allowance being made for any reduction made under subsection (4)(b).
Where—
then, in addition to any reduction falling to be made under subsection (4) or (5), the aggregate amount mentioned in subsection (2) shall be reduced by the actual cost to the authority of carrying out the works.
References in this section to a decrease in net receipts shall be construed as references—
and references to an increase in net receipts shall be construed accordingly.
In this section—
- "proceeding giving rise to compensation" means—