(1) In this section -

"agricultural property" means - (a) agricultural land, pasture and woodland situate in a Member State or in the United Kingdom and crops, trees and underwood growing on such land and also includes such farm buildings, farm houses and mansion houses (together with the lands occupied with such farm buildings, farm houses and mansion houses) as are of a character appropriate to the property, and farm machinery, livestock and bloodstock on such property, and (b) a payment entitlement (within the meaning of Regulation (EU) 2021/2115 of the European Parliament and of the Council of 2 December 2021 [OJ No. L435, 6.12.2021, p. 1.]);;

"agricultural value" means the market value of agricultural property reduced by 90 per cent of that value;