(1) No person shall carry out any . . . development to which this section applies on land in respect of which a notice (“a compensation notice”) is registered under section 110 until any amount which is recoverable under this section in accordance with section 112 in respect of the compensation specified in the notice has been paid or secured to the satisfaction of the Secretary of State.
(2) Subject to subsections (3) [to (5)], this section applies to any . . . development—
(a) which is development of a residential, commercial or industrial character and consists wholly or mainly of the construction
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