Article 39 FundingI1

England, Wales and Scotland

(1)

The undertaker must not exercise the powers conferred by the provisions referred to in paragraph (2) in relation to any land unless it has first put in place either—

(a)

a guarantee and the amount of that guarantee approved by the Secretary of State in respect of the liabilities of the undertaker to pay compensation under this Order in respect of the exercise of the relevant power in relation to that land; or

(b)

an alternative form of security and the amount of that security for that purpose approved by the Secretary of State.

(2)

The provisions are—

(a)

article 17 (compulsory acquisition of land);

(b)

article 18 (compulsory acquisition of rights etc);

(c)

article 22 (acquisition of subsoil only);

(d)

article 24 (private rights);

(e)

article 25 (rights under or over streets);

(f)

article 26 (temporary use of land for carrying out the authorised development);

(g)

article 27 (temporary use of land for maintaining the authorised development); and

(h)

article 28 (statutory undertakers).

(3)

A guarantee or alternative form of security given in respect of any liability of the undertaker to pay compensation under this Order is to be treated as enforceable against the guarantor or person providing the alternative form of security by any person to whom such compensation is payable and must be in such a form as to be capable of enforcement by such a person.

(4)

Nothing in this article requires a guarantee or alternative form of security to be in place for more than 15 years after the date on which the relevant power is exercised.

Annotations

Commencement

I1: Art. 39 in force at 8.8.2017, see art. 1