In any case to which this section applies the Corporation may elect to make a payment equal to the amount of the depreciation in the value of the damaged property caused by the damage ("the depreciation amount") instead of executing any remedial works or making any payment in lieu.
This section applies to the following cases—
The Secretary of State may by order substitute for the percentage specified in subsection (2)(a) above (whether as originally enacted or as previously amended under this subsection) such other percentage as he thinks fit; and an order under this subsection may provide for different percentages to apply in relation to different descriptions of property.
An election under this section, and any revocation of such an election, shall be made by a notice given to the claimant and any other person interested.
References in this section and section 11 below to the service of a notice to treat are references to—