Amendment status not verified — confirm the current text below against the official source.
Compensation in respect of land vested in the Board - (1) Where any land vests in the Board under the provisions or Section 32 and the Board makes declaration that such land shall be retained by the Board only until it revests in the local authority as part of a street or an open space under Section 26 no compensation shall be payable by the Board to the local authority in respect of that land. (2) Where any land vests in the Board under Section 32 and no declaration is made under sub-section (1) in respect of the land, the Board shall pay to the local authority as compensation a sum equal to the value of such land. (3) If, in any case where the Board has made a declaration in respect of any land under sub-section (1), the Board retains or disposes of the land contrary to the terms of the declaration so that the land does not revest in the local authority the Board shall pay to the local authority compensation in respect of such land in accordance with the provisions of sub-section (2).