226
In forceCompensation limited to improvements
Chapter 5Matters affecting land holdings
Part 3Resumption and compensation
Division 2Resumption of a lease under a condition of the lease
226 Compensation limited to improvements
(1)
Compensation for a resumption under this division is payable only for lawful improvements on the lease or part of the lease resumed.
(2)
The compensation is the value of the improvements on the day the resumption takes effect.
(3)
The Minister must decide the compensation payable.
(4)
The value of the improvements must be assessed as their market value in a sale of the lease if the lease had not been resumed.
(5)
The lessee may appeal against the Minister’s decision.
This Act’s bill:Explanatory memorandum
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