Queensland Consolidated Acts Queensland Consolidated Acts(1) The land described in schedule 3 is vested in the Ports Corporation of Queensland and is taken to be strategic port land under an approved land use plan under the Transport Infrastructure Act 1994, section 286.
(2) For subsection (1) and schedule 3, item 3, lease SL34/38495 of lot 72 on NM54 may be taken by proclamation if the lease is not surrendered under the Land Act 1994 before the commencement of this subsection.
(3) Compensation for the resumption under subsection (2) or for the surrender of the lease is payable to The Far North Queensland Electricity Board by the Ports Corporation of Queensland.
(4) The amount and conditions of compensation under subsection (3) are to be decided by the Governor in Council.
(5) Conditions of compensation under subsection (4) may include conditions relating to the grant by the State to the Far North Queensland Electricity Corporation Ltd of an interest in land other than lot 72 on NM54.