Greenhouse Gas Geological Sequestration Act 2008
118Compensation of licence holder
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118 Compensation of licence holder
(1) If the Minister gives a direction under section 114, the licence holder is not required to inject and permanently store a greenhouse gas substance unless—
(a) the applicant has entered into a compensation agreement with the licence holder; or
(b) VCAT has determined the amount of compensation that is payable to the licence holder in relation to the direction.
(2) A person may only make an application to VCAT in respect of a claim after the expiry of any period of time specified for the purposes of this section by the regulations.
(3) A party who makes an application to VCAT is only entitled to have that claim determined by VCAT if VCAT is satisfied that the party has attempted to settle the claim by conciliation, but has not been able to do so because the other party has refused to negotiate a settlement or because both parties are unable to agree.