OFFSHORE MINERALS ACT 1994 - SECT 49 Compensation for acquisition of property due to suspension of rights

OFFSHORE MINERALS ACT 1994 - SECT 49

  (1)   If:

  (a)   the Joint Authority suspends licence rights under section   48; and

  (b)   the suspension results in the acquisition of property from a person; and

  (c)   the Commonwealth and the person agree on an amount of compensation for the acquisition;

the Commonwealth must pay the person the agreed amount of compensation.

  (2)   If:

  (a)   the Joint Authority suspends licence rights under section   48; and

  (b)   the suspension results in the acquisition of property from a person; and

  (c)   the Commonwealth and the person do not agree on an amount of compensation for the acquisition; and

  (d)   the person brings an action for compensation against the Commonwealth in the High Court or an appropriate Supreme Court;

the Commonwealth must pay the person the amount of compensation (if any) that is determined by the court.

  (3)   In this section:

"acquisition of property" means an acquisition of property within the meaning of paragraph   51(xxxi) of the Constitution.

"appropriate Supreme Court" means the Supreme Court of, or having jurisdiction in, the State or Territory for which the Joint Authority is established.