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s 5

Lot entitlement

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Part 2Development

5 Lot entitlement

A schedule of lot entitlements for the purposes of this Act shall be prepared by a valuer as defined in the Valuation of Land Act 1963 and shall show, in respect of each lot, a whole number that represents, as nearly as practicable, the proportion that the value of the lot bears to the aggregate value of all the lots, where the value of each lot is established by reference to its unimproved capital value at the date of the valuation.

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