34Compensation for acquisition of property

34 Compensation for acquisition of property

(1) If, apart from this section, the operation of this Act would result in the acquisition of property from a person otherwise than on just terms, the Commonwealth must pay to the person, out of moneys appropriated by the Parliament for the purpose, any reasonable amount of compensation that is agreed to between the Commonwealth and the person or, in the absence of agreement, is determined by a court of competent jurisdiction. (2) Any damages or compensation recovered, or other remedy given, in proceedings begun otherwise than under this section, must be taken into account in assessing compensation payable in proceedings begun under this section that arise out of the same event or transaction. (3) In this section:

acquisition of property and just terms have the same meanings as in paragraph 51(xxxi) of the Constitution.

person does not include the Corporation.