42Compulsory acquisition of land

42 Compulsory acquisition of land

S. 42(1) amended by No. 10/2017 s. 24(4).

(1) For the purposes of a declared project, Development Victoria, with the approval of the Minister administering the Planning and Environment Act 1987, may acquire an interest in land by compulsory process.

(2) The Land Acquisition and Compensation Act 1986 applies to subsection (1) and for that purpose—

(a) subsection (1) is the special Act; and

S. 42(2)(b) amended by No. 10/2017 s. 28.

(b) Development Victoria is the Authority.

S. 42(3) substituted by No. 35/2006 s. 5,
amended by No. 10/2017 s. 24(4).

(3) In determining the amount of compensation to be paid for the compulsory acquisition of land by Development Victoria, no allowance is to be made for any decrease or increase in the value of the land attributable to the declared project.

S. 42(4) amended by No. 10/2017 s. 24(4).

(4) Any interest in land acquired by Development Victoria under this section—

(a) vests in the Crown under section 24 of the Land Acquisition and Compensation Act 1986 despite anything to the contrary in that section; and

(b) is deemed to be unalienated land of the Crown.

S. 42(5) amended by No. 10/2017 s. 23(1).

(5) Development Victoria must obtain the approval of the Minister and the Treasurer to an acquisition under this section if the value of the interest to be acquired exceeds $5 000 000.

Division 3—Compensation for surrendered or divested land