82Compensation for resumption

82 Compensation for resumption (1) Where land included in a lease is resumed under section 76, the lessee is entitled to compensation for the improvements on the resumed land that are the property of the lessee and: (a) if part only of the leased land is resumed, for the depreciation in the value of the lease by reason of the resumption; or (b) if the whole of the leased land is resumed, for the loss of the lease, assessed in accordance with this section. (2) If the lease specifies the manner in which and the matters in respect of which compensation shall be assessed, the compensation shall be assessed in the manner and with respect to the matters so specified. Crown Lands Act 1992 39 (3) If the lease does not specify the manner in which and the matter in respect of which compensation shall be assessed, the Minister shall require the Valuer-General to assess the compensation to which, under this section, the lessee is entitled. (4) In making an assessment under this section, the Valuer-General: (a) shall not take into account any increased value of the resumed land arising from the construction of public works or from a proposal to construct public works; and (b) shall set off any increase, by reason of such construction or proposal, in the value of the part of the leased land that is not resumed against the amount at which the Valuer-General would otherwise have assessed compensation. (5) The Valuer-General shall give the lessee notice in writing of an assessment under this section. (6) As soon as practicable after the resumption, the Minister shall pay to the lessee an amount equal to the compensation assessed in accordance with this section or, if that compensation is varied under this Act, an amount equal to the compensation as finally determined under this Act.