OLYMPIC INSIGNIA PROTECTION ACT 1987 - SECT 21 Compensation for acquisition of property

OLYMPIC INSIGNIA PROTECTION ACT 1987 - SECT 21

  (1)   Where, but for this subsection, the operation of a provision of this Chapter would result in the acquisition of property from a person by another person otherwise than on just terms, there is payable to the first - mentioned person by that other person such amount of compensation as is agreed upon between those persons, or, failing agreement, as is determined by the Federal Court.

  (2)   Any compensation recovered in proceedings that are instituted under this section shall be taken into account in assessing damages or compensation or giving any other remedy in proceedings that are instituted otherwise than by virtue of this Chapter and that arise out of the same event or transaction.

  (3)   Any damages or compensation recovered or other remedy given in proceedings that are instituted otherwise than by virtue of this Chapter shall be taken into account in assessing compensation payable in proceedings that are instituted under this section and that arise out of the same event or transaction.

  (4)   In this section, acquisition of property and just terms have the same respective meanings as in paragraph   51(xxxi) of the Constitution.