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42c. 36 SCHEDULE 1 1. This Schedule applies to compensation under section 22 of this Act (in this Schedule referred to as “the relevant section”).

2. No compensation to which this Schedule applies shall be payable unless the person to whom it is payable in accordance with the relevant section (or in accordance with regulations made under the following provisions of this Schedule) serves on the manager of the aerodrome by whom the measures in question were taken a notice in writing claiming compensation under that section, and that notice is served before the end of the period of two years from the completion of the measures.

3. In relation to any measures taken by the manager of an aerodrome on land outside the aerodrome, any reference in the relevant section to a direction, or to compliance with a direction, shall be construed as if subsection (6) of section 16 of this Act were omitted.

4. In calculating value for any of the purposes of the relevant section—
 * (a) rules (2) to (4) of the rules set out in section 5 of the Land Compensation Act 1961 shall apply with the necessary modifications, and
 * (b) if the interest to be valued is subject to a mortgage, it shall be treated as if it were not subject to the mortgage.

5. Regulations made by the Secretary of State by statutory instrument may make provision—
 * (a) requiring compensation to which this Schedule applies, in such cases as may be specified in the regulations, to be paid to a person other than the person entitled to it in accordance with the relevant section;
 * (b) as to the application of any compensation to which this Schedule applies, or any part of it, in cases where the right to claim compensation is exercisable by reference to an interest in land which is subject to a mortgage, or to a rentcharge, or to the trusts of a settlement, or, in Scotland, to a feuduty or ground annual or to the purposes of a trust, or which was so subject at a time specified in the regulations; or
 * (c) as to any assumptions to be made, or matters to be taken into or left out of account, for the purpose of assessing any compensation to which this Schedule applies.

6. A statutory instrument containing regulations made under paragraph 5 of this Schedule shall be subject to annulment in pursuance of a resolution of either House of Parliament.