(1) Where the Crown is obliged by the deed of settlement to transfer to the land holding trustee a property of a Crown body (or any body that was a Crown body at the date on which the deed of settlement was signed), the Minister of Lands may, after consultation with—
acquire the property under Part 2 of the Public Works Act 1981 as if the property were land required for both Government work and a public work and Parts 2, 4, 5, 6, and 7 of that Act and Schedules 1, 3, 4, and 5 of that Act shall, subject to the modifications set out in Schedule 3 of this Act and to all other necessary modifications, apply accordingly.
(3) Where a lease of a property acquired pursuant to subsection (1) has been or is to be granted to the body from whom the property is acquired, that lease shall be taken into account in any assessment of compensation made under the Public Works Act 1981 in relation to the acquisition of that property.