The tidal water rights
60 (1) For the purposes of this code a “tidal water right”, in relation to an operator, is—
(a) a right to install and keep electronic communications apparatus on, under or over tidal water or lands;
(b) a right to inspect, maintain, adjust, alter, repair, upgrade or operate electronic communications apparatus on, under or over the tidal water or lands;
(c) a right to carry out any works on, under or over any tidal water or lands for or in connection with the exercise of a right under paragraph (a) or (b);
(d) a right to enter any tidal water or lands to inspect, maintain, adjust, alter, repair, upgrade or operate electronic communications apparatus which is installed or kept by the exercise of the right under paragraph (a).
(2) The works that may be carried out under sub-paragraph (1)(c) include placing a buoy or seamark.
Exercise of tidal water right: Crown land
61 (1) An operator may not exercise a tidal water right in relation to land in which a Crown interest subsists unless agreement has been given to the exercise of the right in relation to the land, in accordance with paragraph 100, in respect of that interest.
(2) If, under a term of such an agreement (the “relevant term”), the amount of consideration payable in respect of a tidal water right exceeds the market value of the right, the relevant term may only be enforced so as to require payment of an amount of consideration which is equal to that market value.
(3) For this purpose the market value of a tidal water right is the amount that, at the date when the relevant term was agreed, a willing buyer would have paid a willing seller for the agreement—
(a) in a transaction at arm’s length, and
(b) on the basis that the buyer and seller were acting prudently and with full knowledge of the transaction.
(4) The market value—
(a) must be assessed on the basis of the value to the operator of the tidal water right and having regard to the use which the operator intends to make of the tidal waters or land in exercising that right (even if the operator may only use the tidal waters or land in that way pursuant to powers conferred by an enactment), and
(b) must not be assessed on the basis of the value of the tidal water right to the holder of the Crown interest.
(5) The market value must be assessed on the assumption that there is more than one site which the operator could use for the purpose for which the operator intends to use the tidal waters or land in question (whether or not that is actually the case).