Commonwealth Consolidated Acts

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CORPORATIONS ACT 2001 - SECT 1298Q

Compensation for acquisition of property

             (1)  If the operation of section 1298P would result in an acquisition of property from a person otherwise than on just terms, the Commonwealth is liable to pay a reasonable amount of compensation to the person.

             (2)  If the Commonwealth and the person do not agree on the amount of the compensation, the person may institute proceedings in the Federal Court for the recovery from the Commonwealth of such reasonable amount of compensation as the court determines.

             (3)  To avoid doubt, this section applies in relation to the operation of section 1298P instead of section 1350.

             (4)  In this section:

"acquisition of property" has the same meaning as in paragraph 51(xxxi) of the Constitution.

"just terms" has the same meaning as in paragraph 51(xxxi) of the Constitution.



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