Regulation 8 Mandatory provisions – interim payments

A third party compensation order in relation to a partial property transfer must include the following provisions (subject to any necessary modifications).

The independent valuer may determine that payments should be made to a F1relevant person, a class of F2relevant persons or all relevant persons on account of compensation to be payable under the third party compensation order (“payments on account”).

The independent valuer may make such a determination at any time before the determination required by regulation 5(5) has been made.

Once the determination required by regulation 5(5) has been made, the independent valuer must determine what balancing payments are appropriate to ensure that the relevant person receives the amount of compensation determined under regulation 5(5) (and no more than that amount).

Subject to paragraph (6), the independent valuer may make such provision as to payments on account as he thinks fit (including a requirement that payments be made in instalments).

Payments on account must be made subject to the following conditions—

In considering whether to require payments on account to be made in accordance with this regulation, the independent valuer must have regard to the merits of ensuring that relevant persons receive compensation in a timely manner.