AustLII Tasmanian Consolidated Acts

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NATURE CONSERVATION ACT 2002 - SECT 43

Payment of compensation

(1)  Any compensation paid by the Minister to a landowner pursuant to a conservation covenant under this Division is –
(a) payable from funds made available for the purpose by Parliament; and
(b) payable in such manner and over such period of time as the Minister and the landowner agree or, failing such agreement, as determined by an arbitrator in accordance with the Commercial Arbitration Act 2011 .
(2)  Despite subsection (1)(b) , a conservation covenant under this Division that provides for the payment of compensation to a landowner is to provide for an initial payment of part of that compensation to be made to the landowner at the time the covenant comes into force.
(3)  If there is more than one owner of land that is subject to a conservation covenant under this Division, any payment of compensation made by the Minister under this Part is to be divided between those landowners according to their respective interests.



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