Valuation Act 2001
Valuation of certain elements of relevant properties.
51.—(1) In determining, under any provision of this Act, the value of a relevant property, the following shall be valued and taken account of in such determination—
(a) any plant in or on the property, being plant specified in Schedule 5,
(b) the water or other motive power (if any) of the property, and
(c) all cables, pipelines and conduits (whether underground, on the surface or overhead and including all pylons, supports and other constructions which pertain to them) that form part of the property.
(2) The value of any matter referred to in paragraph (a), (b) or (c) of subsection (1) shall be determined in the same manner as the value of the property to which it relates is determined under the provision concerned of this Act.
(3) Nothing in paragraph (b) of subsection (1) shall be construed as permitting the value of any machinery in or on the property concerned (not being machinery that constitutes plant specified in Schedule 5) to be taken account of under that subsection unless it is machinery erected and used for the production of the motive power concerned.
(4) In subsection (3) the reference to machinery erected and used for the production of motive power includes a reference to electrical power connections.
(5) Notwithstanding anything in paragraph (a) of subsection (1), a part of any plant referred to in that paragraph which is capable of being moved by mechanical or electrical means, other than a telescopic container, shall not be valued or taken account of in the determination of the value of the property to which it relates.