(1)This section shall apply in relation to any payment in respect of a well maintained house under section 304 or section 305.
(2)Subject to subsection (4), a payment to which this section applies shall be of an amount equal to the rateable value of the house multiplied by such multiplier as may from time to time be specified in an order made by the Secretary of State.
(3)An order made under subsection (2) shall be made by statutory instrument which shall be of no effect unless it is approved by a resolution of each House of Parliament.
(4)A payment to which this section applies shall not in any case exceed the amount (if any) by which the full compulsory purchase value of the house exceeds the restricted value thereof; and any question as to such value shall be determined, in default of agreement, as if it had been a question of disputed compensation arising on such a purchase.
(5)Where a payment falls to be made in respect of any interest in a house under section 308, no payment shall be made in respect of that house under section 304 or 305.
(6)In this section—
“full compulsory purchase value” has the same meaning as in section 311(2);
“rateable value” means the rateable value entered in the valuation roll last authenticated prior to the relevant date;
“restricted value” has the same meaning as in section 311(2); and
“the relevant date” in relation to any payment made with respect to any house means—
(a)if the house was purchased compulsorily in pursuance of a notice served under section 121, the date when the notice was served;
(b)if the house was vacated in pursuance of a demolition order or a closing order, or was declared not to meet the tolerable standard by an order under paragraph 2(1) of Schedule 2 to the M1Land Compensation (Scotland) Act 1963, the date when the order was made.
Marginal Citations