# The Crown Estate Transfer Scheme 2017, Paragraph 14: Failure to agree consideration: tidal waters


(1) This paragraph applies where, in connection with an agreement in respect of any of the Scottish assets, the manager and the operator cannot agree the consideration to be paid by the operator to the manager.
(2) The manager or the operator may apply to the appropriate person for a determination of the consideration to be paid.
(3) An application under sub-paragraph (2) must be made in writing and must include—
(a) the proposed terms of the agreement, and
(b) the reasoned evidence of the operator and of the manager as to what each respectively considers should be the appropriate amount of consideration for the agreement.
(4) As soon as reasonably practicable after receiving a duly-made application, the appropriate person must—
(a) determine the best consideration in money or money’s worth which can reasonably be obtained by the manager, having regard to all the circumstances of the case but ignoring for that purpose any element of monopoly value which may exist; and
(b) notify the manager and the operator in writing of its determination and the reasons for it.
(5) If the agreement mentioned in sub-paragraph (1) (or an agreement in substantially the same form) is concluded following a determination under sub-paragraph (4), the consideration payable by the operator must not be more than the consideration notified under sub-paragraph (4)(b).
(6) The appropriate person may charge a fee in respect of its consideration of an application under sub-paragraph (4) and may apportion the fee between the manager and the operator as it considers appropriate.
(7) In this paragraph—
“appropriate person” means—
(a) such person as the operator and the manager may agree, or
(b) if no person is agreed, such person as may be nominated, on the application of the operator or manager, by the president of the Royal Institution of Chartered Surveyors; and
“duly-made application” means an application which is made in accordance with the requirements in sub-paragraph (3).

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Source: https://www.legislation.gov.uk/ukdsi/2017/9780111155103/schedule/4/paragraph/14 (the official version)
Page: https://openlegislation.uk/draft-crown-estate-transfer-scheme-2017/schedule-4/paragraph-14
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.