200Compensation for acquisition of property

200 Compensation for acquisition of property

(1) If:

(a) apart from this section, the operation of this Act would result in an acquisition of property from a person otherwise than on just terms; and

(b) the acquisition would be invalid because of paragraph 51(xxxi) of the Constitution;

the person who acquires the property is liable to pay a reasonable amount of compensation to the person from whom the property is acquired in respect of the acquisition.

(2) If the 2 people do not agree on the amount of the compensation, the person to whom compensation is payable may institute proceedings in the Federal Court for the recovery of such reasonable amount of compensation as the court determines from the other person.

(3) A function or power under this Act cannot be performed or exercised in such a way as to deprive a person of any compensation payable because of the operation of this section.

(4) Subsection (3) applies despite any other provision of this Act.

(5) Any damages or compensation recovered or other remedy given in a proceeding that is commenced otherwise than under this section is to be taken into account in assessing compensation payable in a proceeding that:

(a) is commenced under this section; and

(b) arises out of the same event or transaction.

(6) In this section:

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.