In determining the rent at which it is to let land as a smallholding1, a smallholdings authority2, the Secretary of State and the Welsh Ministers3 must have regard to the rent which, in their opinion, might reasonably be expected to be determined to be the proper rent if the land were already let as an agricultural holding4, if the terms of that letting, other than the terms as to rent, were those on which the authority proposes to let the land
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