19.—(1) Where, immediately before a vesting order is made, any person has any estate or interest in or right in respect of the derelict site acquired by the order, the person may apply to the local authority not later than twelve months after the making of the order for compensation in respect of the estate, interest or right, and the local authority shall, subject to subsection (3), thereupon pay to the person by way of compensation an amount equal to the value (if any) of the estate, interest or right.

(2) The compensation to be paid by a local authority under this section in respect of any estate or interest in or right in respect of the derelict site shall, in default of agreement, be determined by arbitration under and in accordance with the Acquisition of Land (Assessment of Compensation) Act, 1919.

(3) Where, after the making of a vesting order by a local authority under this Act in relation to any derelict site, any sum (including any sum for costs) remains due to the local authority by any person by way of derelict sites levy or on foot of an order of any court for payment of an amount due to the local authority under this Act or any other Act—

(a) if the sum aforesaid is less than the amount of the compensation payable to the person under this section, the amount of the compensation shall be reduced by the amount of the sum, and

(b) if the sum aforesaid is not less than the amount of the compensation aforesaid, the compensation shall not be payable.

(4) Sections 69 to 79 of the Lands Clauses Consolidation Act, 1845, as amended or adapted by or under the Second Schedule to the Housing of the Working Classes Act, 1890, or any other Act, shall apply in relation to compensation to be paid by a local authority under this section as if such compensation were a price or compensation under the said Act as so amended.

(5) Where money is paid into Court under section 69 of the Lands Clauses Consolidation Act, 1845, as applied by this section, by the local authority, no costs shall be payable by that authority to any person in respect of any proceedings for the investment, payment of income, or payment of capital of such money.