Article 44 Funding

(1)

The undertaker must not exercise the powers conferred by the provisions referred to in paragraph (2) in relation to any Order land unless it has first put in place either—

(a)

a guarantee and the amount of that guarantee approved by the Secretary of State in respect of the liabilities of the undertaker to pay compensation in accordance with the provisions referred to in paragraph (2) in relation to that land; or

(b)

an alternative form of security and the amount of that security for that purpose approved by the Secretary of State in respect of the liabilities of the undertaker to pay compensation in accordance with the provisions referred to in paragraph (2) in relation to that land.

(2)

The provisions are—

(a)

article 21 (compulsory acquisition of land);

(b)

article 24 (compulsory acquisition of rights and imposition of restrictive covenants);

(c)

article 25 (private rights over land);

(d)

article 28 (acquisition of subsoil only);

(e)

article 30 (rights under or over streets);

(f)

article 31 (temporary use of land for carrying out the authorised development)

(g)

article 32 (temporary use of land for maintaining the authorised development); and

(h)

article 33 (statutory undertakers).

(3)

A guarantee or alternative form of security given in respect of any liability of the undertaker to pay compensation under this Order is to be treated as enforceable against the guarantor or person providing the alternative form of security by any person to whom such compensation is payable and must be in such a form as to be capable of enforcement by such a person.

(4)

Nothing in this article requires a guarantee or alternative form of security to be in place for more than 15 years after the date on which the relevant power is exercised.