PART 4COMPULSORY ACQUISITION

Funding

article 23 + 23.—(1) The undertaker must not exercise the powers conferred by the provisions referred to in paragraph (2) in relation to any land unless it has first put in place either—

article 23 1 a + (a)a guarantee and the amount of that guarantee approved by the Secretary of State in respect of the liabilities of the undertaker to pay compensation under this Order in respect of the exercise of the relevant power in relation to that land; or

article 23 1 b + (b)an alternative form of security and the amount of that security for that purpose approved by the Secretary of State in respect of the liabilities of the undertaker to pay compensation under this Order in respect of the exercise of the relevant power in relation to that land.

(2) The provisions are—

article 23 2 a + (a)article 24 (compulsory acquisition of land);

article 23 2 b + (b)article 26 (compulsory acquisition of rights);

article 23 2 c + (c)article 27 (private rights);

article 23 2 d + (d)article 30 (acquisition of subsoil or airspace only);

article 23 2 e + (e)article 31 (rights under or over streets);

article 23 2 f + (f)article 32 (temporary use of land for carrying out the authorised development);

article 23 2 g + (g)article 33 (temporary use of land for maintaining the authorised development);

article 23 2 h + (h)article 34 (statutory undertakers).

(3) A guarantee or alternative form of security given in respect of any liability of the undertaker to pay compensation under this Order is to be treated as enforceable against the guarantor or person providing the alternative form of security by any person to whom such compensation is payable and must be in such form as to be capable of enforcement by such a person.

(4) Nothing in this article requires a guarantee or alternative form of security to be in place for more than 15 years after the date on which the relevant power is exercised.