OpenLegislation

Article 9 Arbitration

Original text. Later amendments are not shown.

The arbiter may on the application of a participating owner or the General Trustees determine–

(a)

such terms (including any title conditions to be imposed on the land) on which it is reasonable in all the circumstances for the General Trustees to give an opportunity to purchase the land; and

(b)

the price which is a reasonable estimate of the open market value of the land assessed on the basis of a sale by a willing seller to a willing purchaser on such terms.