Victorian Consolidated Legislation

Land Acquisition and Compensation Act 1986 - SECT 66

Application of compensation

66. Application of compensation



(1) Any compensation payable under this Act to a person to whom section 65
applies must be applied by that person in one or more of the following ways:

   (a)  In the discharge of any debt or encumbrance affecting-

   (i)  the interest in land in respect of which the compensation has been
        paid; or

   (ii) other interests in lands settled with that interest to the same or
        like uses, trusts and purposes;

   (b)  In the purchase of interests in other land;

   (c)  In the purchase of Victorian Government securities;

   (d)  On mortgage of freehold lands in Victoria;

   (e)  If the money is paid in respect of any buildings acquired under this
        Act or the special Act or injured by the proximity of the works, in
        removing and re-erecting the buildings or substituting others in their
        stead;

   (f)  In any way or manner that the Court in a summary way orders or
        directs;

   (g)  In payment to any person becoming absolutely entitled to the money.

(2) Any land or securities purchased or any mortgage under subsection (1)(b),
(c) or (d) must be conveyed, limited and settled upon the same uses, trusts
and purposes, and in the same manner as the land in respect of which the
compensation has been paid stood settled.