Victorian Current Acts

PLANNING AND ENVIRONMENT ACT 1987 - SECT 46GZD

    (1)     This section applies if—

        (a)     the whole or any part of a monetary component is forwarded or paid to a development agency specified in an approved infrastructure contributions plan for the provision by the development agency of works, services or facilities in the ICP plan area; and

        (b)     an amount of the monetary component has not been expended by the development agency before the date on which the plan expires.

    (2)     The development agency must, within 6 months after the date on which the approved infrastructure contributions plan expires—

        (a)     with the consent of the Minister and in the manner approved by the Minister—expend the remaining amount of the monetary component for the provision of other works, services or facilities in the ICP plan area; or

        (b)     if the development agency does not expend the remaining amount of the monetary component under paragraph (a)—pay that amount to the collecting agency, unless the development agency is the collecting agency.

    (3)     The collecting agency must—

        (a)     divide the remaining amount of the monetary component among the current owners of each parcel of land in the ICP plan area in respect of which a monetary component under the approved infrastructure contributions plan has been paid; and

        (b)     pay each current owner the divided amount.

    (4)     For the purposes of subsection (3), the divided amount must be in proportion to the area of contribution land in that current owner's parcel of land compared to the area of contribution land in the ICP plan area in respect of which a monetary component under the approved infrastructure contributions plan has been paid.

    (5)     The collecting agency must make the payments under subsection (3) as follows—

        (a)     if the collecting agency is not the development agency—within 12 months after the date on which the payment of the remaining monetary component under subsection (2)(b) is received;

        (b)     if the collecting agency is the development agency—within 12 months after the date on which the approved infrastructure contributions plan expires.

S. 46GZE inserted by No. 7/2018 s. 10.