Victorian Current Acts

PLANNING AND ENVIRONMENT ACT 1987 - SECT 46GZE

    (1)     This section applies if—

        (a)     any part of a land equalisation amount has been paid to the collecting agency or forwarded to a development agency specified in an approved infrastructure contributions plan; and

        (b)     any part of that amount has not been expended at the date on which the plan expires.

    (2)     If any part of a land equalisation amount paid or forwarded to a development agency for acquiring outer public purpose land has not been expended by the development agency to acquire that land at the date on which the approved infrastructure contributions plan expires, the development agency must forward the land equalisation amount back to the collecting agency within 6 months after that expiry date, unless the development agency is the collecting agency.

    (3)     The collecting agency must, within 12 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 remainder of the land equalisation amount to acquire land in the municipal district in which the ICP plan area is situated for a public purpose specified in a Minister's direction applying to the plan; or

        (b)     if the collecting agency does not expend the remainder of the land equalisation amount under paragraph (a)—

              (i)     divide that amount among the current owners of each parcel of land in the ICP plan area in respect of which a land equalisation amount has been paid or inner public purpose land has been provided under the approved infrastructure contributions plan; and

              (ii)     pay each current owner the divided amount.

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

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