South Australian Consolidated Acts South Australian Consolidated Acts23A—Offer of compensation and payment into court
(1) When the Authority
gives notice of the acquisition of land, it must make an offer to the person
or persons whom it believes to be entitled to compensation for the
acquisition, stating the amount of compensation the Authority is prepared to
pay.
(2) The offer must
(where appropriate) differentiate between, and quantify, the component of
compensation representing the value of the acquired land and the component
referable to disturbance or other compensable matters.
(3) The Authority
must, within seven days after making an offer of compensation, pay the amount
offered into the Court.
(3a) However, if the
Authority has already paid an amount into the ERD Court under Division 1 in
relation to the proposed acquisition, the Authority is required only to pay
into the Court the amount (if any) by which the amount of the offer exceeds
the amount already paid into the ERD Court.
(4) Until compensation
paid into Court under this section is applied by order of the Court, the money
must be invested by the proper officer of the Court in an authorised trustee
investment (bearing interest that compounds at intervals of one month or less)
and the interest and other accretions accruing on the investment—
(a) must
be paid to—
(i)
the person who would, but for the acquisition of the
land, have been entitled to the rents and profits of the land; or
(ii)
a body constituted under the law of the State or the
Commonwealth as trustee for the claimants to whom the compensation is offered;
or
(b) must
be dealt with in some other manner specified by the Court.