Land Development Agency Act 2021
PART 7 Register and acquisition of relevant public land by Agency | ||
Definitions (Part 7) | ||
49. In this Part— | ||
“market value”, subject to section 55 (7), means the estimated amount for which an asset or liability should exchange on the valuation date between a willing buyer and a willing seller in an arm’s length transaction after proper marketing and where the parties had each acted knowledgeably, prudently and without compulsion; | ||
“valuation date” means the valuation date within the meaning of section 55 (3). |