(1)  Compensation is payable by the licensee or lessee to the owner or occupier of private land or a holder of a forestry right for any compensable loss suffered or likely to be suffered as a consequence of exploration or mining under the licence or lease.

(2)  Compensation is not payable –

(a) for the value of any mineral in or under the surface of land comprised in a licence or lease; or

(b) in respect of any land which became private land after the commencement of work or mining on that land under the licence or lease.

(3)  Compensation is payable at a rate –

(a) specified in a compensation agreement; or

(b) if there is no agreement, determined by the Mining Tribunal under section 150 .

(4)  The amount of compensation payable –

(a) is not affected by any subsequent change in the ownership or occupancy of the land; and

(b) must not be greater if the land is owned and occupied by different persons than if it is not.