# The Town and Country Planning (Compensation and Certificates) Regulations 1974, Paragraph 2: Entitlement to rentcharge payment


(1) Where the right to claim any compensation under Part VII of the Act is exercisable by reference to an interest in land (being either a fee simple or a tenancy granted for a term of one hundred years or more) and—
(a) there was subsisting at the material time a rentcharge created either before 1st July 1948, or on or after 1st January 1955 and created out of part or the whole of the area of land by reference to which the said right is exercisable, or out of that land together with other land; and
(b) the amount of the rentcharge so far as attributable to the land subject thereto by reference to which the said right is exercisable (in this Schedule referred to as “the charged land”) exceeds the available annual limited value of the charged land ascertained in accordance with paragraph 6 of this Schedule,
then, subject to paragraph 4 of this Schedule, that rentcharge owner shall be entitled, if he makes a rentcharge claim, to receive from the Secretary of State, out of the compensation which falls to be paid under Part VII of the Act, a sum equal to the capital equivalent of the excess:
Provided that the said sum shall not exceed the amount of the said compensation.
(2) Where the interest in land by reference to which the right to claim compensation is exercisable was subject at the material time to more than one such rentcharge as is mentioned in the preceding sub-paragraph, then—
(a) where more than one rentcharge owner has made a rentcharge claim the rentcharge payment to each of them who has so claimed shall be so paid out of the compensation that each rentcharge owner receives the payment to which he is entitled, or so much thereof as can be satisfied out of the compensation after rentcharge payments have been made to owners of any rentcharge having priority;
(b) where a rentcharge owner fails to make a rentcharge claim he shall not be entitled to the payment of any sum under this Schedule but the foregoing provisions of this paragraph shall have effect to enable such rentcharge payments to be made to other rentcharge owners as would have been payable if he had made such a claim.

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Source: https://www.legislation.gov.uk/uksi/1974/1242/schedule/2/paragraph/2 (the official version)
Page: https://openlegislation.uk/town-and-country-planning-compensation-and-certificates-regulations-1974/schedule-2/paragraph-2
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.