Where—
(a) planning permission granted under Part 3 of the Planning Act (Northern Ireland) 2011 is revoked with the consent of a person entitled to a compensatable estate in the land to which the permission related (in this Article referred to as “the original land”);
(b) planning permission is granted under that Part on or after the date of the revocation referred to in paragraph ( a ) in relation to land other than the original land, for development similar to the development permitted by the revoked permission; and
(c) the permission first referred to in paragraph ( b ) specifies that it is in substitution for the permission referred to in paragraph ( a );
no compensation shall be payable under section 26 of the Land Development Values (Compensation) Act (Northern Ireland) 1965 in respect of the revocation referred to in paragraph ( a ) to a person who has consented under that paragraph to the revocation.