I2Part II Remedial Action
Payments in lieu and depreciation payments
I114 Depreciation payments: general.
1
The Corporation shall not make a depreciation payment in respect of subsidence damage to a dwelling-house, other than a payment under section 11(3) above, except after consultation with—
a
the local authority within the meaning of the M1Housing Act 1985; or
b
the local authority within the meaning of the M2Housing (Scotland) Act 1987,
in whose area the dwelling-house is situated.
2
The Corporation shall not make a depreciation payment in respect of subsidence damage to any property other than a dwelling-house, where that property is of any description prescribed for the purposes of this subsection, except after consultation with such Minister of the Crown or other person as may be so prescribed in relation to that description of property.
3
Any depreciation payment shall be made as soon as reasonably practicable after the obligation to make it arises.
4
Schedule 1 to this Act applies for determining—
a
the unit of property to be taken into account for any purposes of section 10 or 11 above; and
b
the amount of any depreciation in the value of any such unit in respect of which a depreciation payment falls to be made;
and interest shall be payable in respect of any depreciation payment in accordance with that Schedule.
Part II wholly in force at 30. 11. 1991 see s. 54(2) and S.I. 1991/2508, art. 2