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reg 30

Payment etc of compensation

In force
Part 4Compensation
Division 4.6Payment etc of compensation

30 Payment etc of compensation

(1)

If a claimant accepts an offer of an amount of compensation under section 28 (a) or section 29 (3) in relation to an acquisition, the amount of compensation given to the claimant under the Act, section 10 (Acquisition must be on just terms) for the acquisition is—

(a)

the amount of compensation in the accepted offer; less

(b)

any amount paid, or the value of any other compensation given, by the Territory to the claimant under section 24 (Early compensation arrangements).

(2)

The Territory must give the claimant the compensation as soon as is reasonably practicable after the claimant has—

(a)

produced or surrendered all deeds and documents relating to, or evidencing, the claimant’s title to the acquired interest that the Territory reasonably requires to be produced or surrendered; and

(b)

executed all documents, including any deed of release, the Territory reasonably requires; and

(c)

complied with any obligations under the Act.

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