Tasmanian Consolidated Acts Tasmanian Consolidated Acts
(1) Where a corporation holds land for highway purposes, it may, as it considers expedient having regard to the purposes for which the land is held, create or convey estates and interests in the land, including any part of it through, in, or under which a relevant highway is or is to be carried, or a space or a building or other work that is or will be, in whole or in part, on or above or below its surface.
(2) In relation to any land, a reference in subsection (1) to a relevant highway shall be read as a reference to the highway to be opened through, over, or under the land and a highway for the widening or alteration of which the land is held.
(3) The exercise of the rights of passage over a highway is subject to any estates or interests granted under this section and those rights of passage are not to be exercised to the prejudice of the persons holding those estates or interests.
(4) Where a corporation acquires land for highway purposes from a person who retains land adjacent to or adjoining that taken, the corporation may, by deed poll, undertake to grant to the owner of the land so retained or a specified part of it such an estate or interest as is referred to in subsection (1).
(5) In assessing the compensation for the acquisition of any land referred to in subsection (4), regard shall be had to the value of the undertaking to the person to whom the compensation is payable.