Commonwealth Consolidated Acts

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FOREIGN ACQUISITIONS AND TAKEOVERS ACT 1975 - SECT 115T

Vacancy fee recovery--compensation for acquisition of property

  (1)   If the operation of this Division 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.

Note:   For the definitions of acquisition of property and just terms , see section   4.

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



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