70J   Nature of valuations

(1)  Any valuations provided for by a special arrangement under this Part may but need not be in accordance with this Act.

(2)  Valuations provided for by a special arrangement and not conforming to the principles of valuations required by other provisions of this Act are nevertheless subject to Parts 3 and 4.

(3)  Those Parts (together with any other relevant provisions of this Act) apply with such modifications as are necessary or appropriate in relation to valuations provided for by a special arrangement.