Treasurer’s determination if no recommendation by Minister
155 Treasurer’s determination if no recommendation by Minister
If the Minister does not make a recommendation in accordance with section 154(1)(b) the applicant may require that the Treasurer determine the matter immediately.
If the Treasurer does not refuse the application, the Treasurer is liable to pay to the applicant —
an amount agreed between the Treasurer and the applicant; or
failing agreement on the amount, an amount determined —
by a valuer appointed by agreement between the Treasurer and the applicant; or
failing agreement on the appointment of a valuer, under and in accordance with the Commercial Arbitration Act 2012, or under and in accordance with some other method of determination agreed between the Treasurer and the applicant.
The determination of an amount under subsection (2)(b) must take into account the factors mentioned in section 154(2) and (4).
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