The Compulsory Purchase (Vesting Declarations) Act 1981 is amended as set out in subsections (2) to (6).
In section 7 (constructive notice to treat), in subsection (1), at the beginning insert ."Subject to section 8A,"
In section 8 (vesting, entry and possession), in subsection (1), for "section" substitute ."sections 8A and"
After section 8 insert—
In section 10 (compensation), after subsection (1) insert—
In paragraph 5 of Schedule A1 (definitions for the purposes of the Schedule)—
the existing text become sub-paragraph (1);
in that sub-paragraph, in the definition of "original vesting date", after "is" insert ;", subject to sub-paragraph (2),"
after that sub-paragraph insert— 2 If an agreement under section 8A is in force in respect of the interest which gives the owner the ability to sell the land proposed to be acquired, the "original vesting date" is the date on which the interest is to vest as a result of the agreement.
In section 5A of the Land Compensation Act 1961 (valuation date)—
in subsection (4), after "date is" insert ;", subject to subsection (4A),"
after subsection (4) insert— 4A If an interest in land vests in accordance with an agreement under section 8A of that Act (postponement of vesting), the relevant valuation date in respect of that interest is the earlier of— a the date on which it vests, and b the date when the assessment is made.;
in subsection (5B)(b), after "is" insert .", as a result of Schedule A1 to the Compulsory Purchase (Vesting Declarations) Act 1981 (counter-notices in respect of divided land),"