(1) Should any building or part of a building project beyond the regular line of a street, either existing or determined on for the future, or beyond the front of the building on either side thereof, the trust may whenever such building or part thereof has been either entirely or subsequently taken down or burnt down or has fallen down, by written notice, require such building or part thereof when being rebuilt to be set back to or towards the said building line or the front of the adjacent buildings; and the portion of the land added to the street by such setting back or removal shall become part of the street and shall vest in the trust.
(2) The trust may on such terms as it may deem fit require or allow any building to be set forward for the improvement of the line of the street.
(3) When any building is set back or forward in pursuance of a requisition made under the preceding clause, the trust, shall forthwith make full compensation to the owner of the building for any damage or loss that he may sustain.
(4) If the additional land which is not a part of street and green space and is to be included in the premises of any person required or allowed to set forward, a building, or part thereof, belongs to the trust, the requisition or permission of the trust to set forward the buildings shall be sufficient conveyance to the said owner of the said land, and the terms and conditions of the conveyance shall be set forth in the said requisition or permission.