Section 33 Calculation of value.F1C1
Northern Ireland
In calculating the value of a compensatable estate in and forF3 the purposes of section 26
subject to subsection (2), rules (2) to (4) of the rules set out inF4 Article 6(1) of the Land Compensation (Northern Ireland) Order 1982 shall, so far as applicable have effect as they have effect for the purpose of assessing compensation for the compulsory purchase of land; and
if a compensatable estate to be valued is mortagaged, it shall be treated as if the mortgage had been discharged.
Subs. (2) rep. by 2001 c. 2 (NI)
Where, for the purposes of section 26
value falls to be calculated by reference to the duration of a tenancy; and
by reason of any option or other contractual right with respect to the determination, renewal or continuance of the tenancy the date of expiry of the tenancy is not ascertainable with certainty;
that date shall be taken to be such as appears reasonable and probable having regard to the interests of the party by whom the option is exercisable, or in whose favour the right operates, and to any other material considerations subsisting at the time when the calculation of value falls to be made.
Annotations
Textual amendments
- F1
- F2
- F3
- F4
Modifications
- C1
S. 33 applied (with modifications) (13.2.2015 for specified purposes, 1.4.2015 in so far as not already in operation) by Planning Act (Northern Ireland) 2011 (c. 25), ss. 181(4), 254(1), (2) (with s. 211); S.R. 2015/49, arts. 2, 3, Sch. 1 (with Sch. 2) (as amended (16.3.2016) by S.R. 2016/159, art. 2)