(1) Subject to this
Division, the compensation payable for injurious affection due to or arising
out of the land being reserved under a planning scheme, where no part of the
land is purchased or acquired by the responsible authority, is not to exceed
the difference between —
(a) the
value of the land as so affected by the existence of such reservation; and
(b) the
value of the land as not so affected.
(2) The values
referred to in subsection (1)(a) and (b) are to be assessed as at the date on
which —
(a) the
land is sold as referred to in section 178(1)(a); or
(b) the
application for approval of development on the land is refused; or
(c) the
approval is granted subject to conditions that are unacceptable to the
applicant.