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7(1)This paragraph applies where—
(a)any rights or liabilities of a third party which were enforceable against or by the Post Office have by virtue of this Part of this Act become enforceable against or by the Post Office company, and
(b)the value of any property or interest of the third party is diminished as a result.
(2)Such compensation as is just shall be paid by the Post Office company.
(3)Any dispute as to whether, or how much, compensation is payable or about the person to whom it is payable shall be referred to and determined by—
(a)an arbitrator appointed by the President of the Royal Institution of Chartered Surveyors (if the proceedings are to be held in England and Wales),
(b)an arbiter appointed by the Chairman of the Royal Institution of Chartered Surveyors in Scotland (if the proceedings are to be held in Scotland), or
(c)an arbitrator appointed by the Lord Chancellor (if the proceedings are to be held in Northern Ireland).
(4)In this paragraph “third party” means any person other than the Post Office and the Post Office company.
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