Article 9 Guarantees in respect of payment of compensation, etc.I1
England, Wales and Scotland
The authorised development must not be commenced, and the undertaker must not exercise the powers in articles 19 to 33, until—
subject to paragraph (3), security of F1£6.2 million has been provided in respect of the liabilities of the undertaker—
to pay compensation to landowners in connection with the acquisition of their land or of rights over their land by the undertaker exercising its powers under Part 5 of this Order; and
to pay noise insulation costs and relocation costs as required by requirement 9 of Schedule 2; and
the Secretary of State has approved the security in writing.
The security referred to in paragraph (1) may include, without limitation, any one or more of the following—
the deposit of a cash sum;
a payment into court;
an escrow account;
a bond provided by a financial institution;
an insurance policy;
a guarantee by a parent company or companies of the undertaker;
a guarantee by a person of a sufficient financial standing (other than the undertaker).
The Secretary of State is to have no liability to pay compensation in respect of the compulsory acquisition of land or otherwise under this Order.
Annotations
Textual amendments
- F1
Sum in art. 9(1)(a) substituted (23.9.2023) by The Manston Airport Development Consent (Amendment) Order 2023 (S.I. 2023/1038), arts. 1, 2(2)
Commencement
- I1
Art. 9 in force at 8.9.2022, see art. 1