(1)  When a fence is erected on the boundary of any land, and the Crown land adjoining such boundary is not at the time of the erection of such fence subject to the provisions of this Act, then any person who may thereafter become the owner of such adjoining Crown land shall, upon demand made upon him by notice given within 6 months from the time of his becoming the owner, pay to the person entitled to the fence one-half of the then value of the fence, and in the event of any dispute arising in relation to the fence or the then value thereof, the dispute shall be determined by arbitration in the manner provided by Part IV .

(2)  The provisions of this section apply to any fence, whether erected before or after the commencement of this Act.