(1)Where the promoter of a tramway in a circle is not the local authority, the local authority, with the previous sanction of the [Government] [Substituted 'Local Government' by the A.O. 1937.], may -(a)within such limits of time as may be specified in this behalf in the order, or(b)if a time was not specified in the order, then within six months after the expiration of a period of twenty-one years from the date of the order, and within six months after the expiration of every subsequent period of seven years, or(c)within two months after the publication of a notification under section 19 or within six months after the publication of a notification under section 21,by notice in writing, require the promoter to sell to the local authority his undertaking or the part thereof which is within the circle of the local authority; and thereupon the promoter shall sell the same upon the terms specified in the order, or, if the terms were not specified in the order, then upon the terms of paying the then value of the undertaking or of the part thereof, exclusive of any allowance for past or future profits of the undertaking or any compensation for compulsory sale or other consideration whatsoever.
