Section 90 Original unexpended balance of established development value

(1)

In this Part of this Act “original unexpended balance of established development value ”, in relation to any land, means the unexpended balance of established development value which that land had immediately after the time when, in accordance with section ninety-two of this Act, the adjustment of claim holdings is deemed to have been completed.

(2)

For the purposes of this Part of this Act land shall be taken to have had such a balance if, immediately after the time referred to in the preceding subsection.—

(a)

there were subsisting one or more claim holdings whose area consisted of that land, or included that land together with other land, and

(b)

there was not subsisting any claim holding whose area consisted of part only of that land, whether with or without other land.

(3)

Where the last preceding subsection applies, there shall be attributed to the land referred to in that subsection—

(a)

the value of any claim holding having an area consisting of that land, and

(b)

such fraction of the value of any claim holding whose area included that land as attached to that land,

and the original unexpended balance of established development value of that land shall be taken to have been an amount equal to eight-sevenths of the amount or aggregate amount so attributed.