78
In forceDetermination of compensation by pre‑acquisition agreement
Part VIICompensation for compulsory acquisition of interests in land
Division 5Determination of compensation payable
78 Determination of compensation by pre‑acquisition agreement
(1)
The Minister and the owner of an interest in land, other than a mortgage interest, may agree on the amount of compensation to which the owner will be entitled if the interest is acquired by compulsory process within a time specified in the agreement.
(2)
If the interest is acquired from the owner by compulsory process within the specified time and the agreement is still in force, the amount of compensation payable to the owner in respect of the acquisition is the amount specified in the agreement.
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