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Amendment of section 605 (disposals to authority possessing compulsory purchase powers) of Principal Act.
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61.—Section 605 of the Principal Act is amended—
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(a) in subsection (1), by substituting the following for paragraph (c):
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“(c) subject to subsection (4A), the original assets and the replacement assets are within one, and the same one, of the classes of assets specified in subsection (5),”,
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and
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(b) by inserting the following after subsection (4):
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“(4A) Where the original assets is land which has been let by the person making the disposal at any time in the period of 5 years ending with the disposal and, immediately before the time the land was first let in that period, the land was owned by that person and used by that person for farming (within the meaning of section 654) for a period of not less than 10 years ending with the time the land was first so let, the land may be treated as being within Class 1, which is referred to in subsection (5).”.
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