5Vesting of former smelter site

5 Vesting of former smelter site

5 Vesting of former smelter site

(1) On the vesting day the former smelter site—

(a) is vested in the Development Corporation, and

(b) is freed and discharged from all estates, interests, trusts, restrictions, dedications, reservations, easements, rights, charges, rates and contracts in, over or in connection with the land other than a preserved interest.

(2) The Development Corporation is entitled to vacant possession of the former smelter site on the vesting day and a person is entitled to remain in occupation only with the written agreement of the Development Corporation.

(3) No compensation is payable to any person or body in connection with the operation of subsection (1) or (2), except as provided by section 6.

(4) In this section—

preserved interest means any of the following interests shown on the title of land forming part of the former smelter site immediately before the notification day—

(a) an easement,

(b) an access right,

(c) a covenant,

(d) a restriction on use,

(e) a leasehold interest.