Compensation for compulsory acquisition of agricultural land
Published by a LexisNexis Property expert
Practice notesCompensation for compulsory acquisition of agricultural land
Published by a LexisNexis Property expert
Practice notes
Farm Business tenancy — Compulsory acquisition of tenant’s interest
Where land is:
- •
used for agriculture (within the meaning of the Agricultural Tenancies Act 1995 (ATA 1995)) by way of a trade or business, or
- •
comprised in a farm business tenancy (within the meaning of ATA 1995) and used for a trade or business
and the tenant (the person carrying on the trade or business) is forced to quit the land because an interest in it is either compulsorily acquired or sold by agreement to an Authority with compulsory purchase powers, the acquiring authority can pay such reasonable allowance as it thinks fit towards the tenant’s removal expenses and the loss that, in its opinion, the tenant will sustain due to the disturbance to the tenant’s trade or business.
In estimating the tenant’s loss, the acquiring authority must consider the period that the land might reasonably have been expected to be available for the trade or business, and the availability of other land suitable for that purpose.
In addition, the tenant may also claim
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Jurisdiction(s):
United Kingdom
Related legal acts:
Key definition:
Compulsory acquisition definition
What does Compulsory acquisition mean?
CA 2006, ss 974–991 contains provisions enabling or requiring an offeror, following a takeover offer, to acquire offeree shares for which acceptances have not been received or given under the offer. Also referred to as squeeze-out rights (an offeror’s right to compulsorily purchase the shares of non-assenting shareholders) and sell-out rights (non-assenting shareholders’ rights to require the offeror to purchase their shares), in each case on the same terms as the offer. The exercise of squeeze-out rights is dependent on the offeror having acquired or contracted to acquire at least 90% of the shares to which the offer relates and, if relevant, at least 90% of the voting rights carried by such shares. A minority shareholder may exercise sell-out rights if the offeror acquires 90% of all the offeree shares (and not just those to which the offer relates). These statutory provisions apply to both public and private UK companies wherever there is a 'takeover offer' as defined by the CA 2006. There is no requirement for the offer to be regulated by the Code.
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