Corporations (Aboriginal and Torres Strait Islander) Consequential, Transitional and Other Measures Act 2006 (125 of 2006)

Schedule 3   Transitional provisions

Part 4   Administrative matters, compliance and enforcement

Division 3   Other administrative matters

115   Compensation for acquisition of property

(1) If the operation of this Schedule would result in an acquisition of property from a person otherwise than on just terms, the Commonwealth is liable to pay a reasonable amount of compensation to the person.

(2) If the Commonwealth and the person do not agree on the amount of the compensation, the person may institute proceedings in a court of competent jurisdiction for the recovery from the Commonwealth of such reasonable amount of compensation as the court determines.

(3) In this item:

acquisition of property has the same meaning as in paragraph 51(xxxi) of the Constitution.

just terms has the same meaning as in paragraph 51(xxxi) of the Constitution.