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74.(1) Where a purchase notice has been served and either (a)a notice is served under Article 71(a); or (b)where a counter-notice has been served, the objection is withdrawn, or on a reference to the Lands Tribunal, is not upheld by the Tribunal, (2) The amount to be paid for an estate by the Ministry under a contract deemed to have effect under paragraph (1) shall be the amount which the Ministry would have paid for the estate if it had compulsorily acquired the estate on the date of acceptance under Article 54. (3) Any dispute as to the amount to be paid under paragraph (2) for an estate shall be determined by the Lands Tribunal. (4) The date for the completion of the purchase of an estate in pursuance of a contract deemed to have effect under paragraph (1) shall, unless the owner of the estate and the Ministry otherwise agree, be three months from the date on which they agree upon the amount to be paid for that estate or, in default of agreement on that amount, from the date on which the Lands Tribunal determines that amount. (5) If on the date for the completion of a contract deemed to have effect under paragraph (1), the Ministry fails to pay to the claimant the amount payable to him under this Article, the Ministry shall, unless that failure arises from a cause other than the Ministry's act or default, pay to him, from that date until the date on which it pays that amount, interest on that amount at such rate as may for the time being be determined by the Ministry of Finance under paragraph 18(2) of Schedule 6 to the Local Government Act (Northern Ireland) 1972. (6) For the purposes of determining the amount to be paid for an estate under a contract deemed to have effect under paragraph (1), for any reference in Part II of the Act of 1971 to the date of acquisition there shall be substituted a reference to the date of acceptance. (7) In this Article "the date of acceptance" (a)in a case where the Lands Tribunal, on a reference to it, does not uphold an objection, is the date of the Tribunal's determination; (b)in any other case, is the date on which a notice is served under Article 71(a) or two months from the date of service of the purchase notice, whichever is the earlier.
© 1972 Crown Copyright
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