Assessment of value of land etc. 5 4 (1) The valuer is to assess the value of the land being resumed— (a) if sold with vacant possession, and (b) if sold with the tenant still in occupation. (2) In assessing the value of the land under sub-paragraph (1), the valuer— (a) is to have regard to the value that would be likely to be agreed between 10 a reasonable seller and buyer of such land assuming the seller and buyer 1 are, as respects the transaction, willing, (b) is to take account— (i) of when the landlord would in the normal course of events have been likely to recover vacant possession of the land from the tenant, 15 (ii) of the terms and conditions of any lease, other than the lease of the holding, affecting the land, (c) is to take no account of— (i) the existence of any person to whom the tenant could assign the lease of the holding under section 10A or to whom the lease could 20 be bequeathed under section 11, (ii) the absence of the period of time during which the land would, on the open market, be likely to be advertised and exposed for sale, (iii) any factor attributable to any use of the land which is or would 25 be unlawful, (iv) any increase in the value of the land resulting from any improvements in relation to which the tenant would be entitled to compensation, (v) any increase, or reduction, in the value of the land resulting from 30 the use of any of the land, or changes to the land, for a purpose that is not one permitted by the lease of the holding, (vi) any reduction in the value of the land resulting from any dilapidation or deterioration of, or damage to, fixed equipment or land caused or permitted by the tenant in relation to which the 35 landlord would be entitled to compensation. (3) For the purposes of sub-paragraph (2)(c)(iv)— (a) subject to paragraph (b), “improvements” is to be construed by reference to schedule 5, and (b) the continuous adoption by the tenant of a standard of farming more 40 beneficial to the land than the standard or system required by the lease or, in so far as no system of farming is so required, than the system of 36 Land Reform (Scotland) Bill Part 2—Leasing land Chapter 3—Agricultural holdings farming normally practised on comparable...