Where—
(a) a pre-acquisition declaration is revoked or ceases to have effect because of section 35 (2); and
(b) a person who, when the declaration was in force, was an owner of an interest affected by the declaration, suffers loss as a direct, natural and reasonable consequence of the making of the declaration; and
(c) within 3 years after the declaration is revoked or ceases to have effect, the person claims compensation in accordance with section 82;
the Executive is liable to pay to the person as compensation such amount as will justly compensate him or her for the loss.