6Application of Land Acquisition Act

#### 6 Application of Land Acquisition Act 6 Application of Land Acquisition Act > > (1) The vesting of the former smelter site under this Act is taken to be a compulsory acquisition by the Development Corporation by acquisition notice under the Land Acquisition Act. > > > (2) The acquisition notice is taken to be published on the vesting day. > > > (3) Only Part 3 of the Land Acquisition Act applies to the acquisition and that Part applies subject to this section and the regulations. > > > (4) Subsections (5)–(10) apply when determining, for the purposes of the Land Acquisition Act, the amount of compensation to which a person is entitled for the acquisition of an interest in land at the former smelter site. > > > (5) The date of acquisition is taken to be the day immediately before the notification day. > > > (6) Each of the following is taken to be nil— > > > > > (a) the matters set out in section 55(c) and (f) of the Land Acquisition Act, > > > > > (b) the loss attributable to disturbance of land under paragraph (f) of the definition of loss attributable to disturbance in section 59 of the Land Acquisition Act. > > > (7) The following (the future costs of managing contamination of the former smelter site) must be taken into account when determining the market value or special value of an interest in land at the former smelter site— > > > > > (a) the net present value of the cost of exercising the functions of the owner of the containment cell site under section 7 in perpetuity, > > > > > (b) the net present value of the cost of exercising the function of the owner of contaminated land other than the containment cell site under section 8 in perpetuity. > > > (8) Any limitation (a legislative limitation) on the use of land at the former smelter site by or under an Act (including any of the following Acts) must be taken into account when determining the market value or special value of an interest in land at the former smelter site— > > > > > (a) the [Contaminated Land Management Act 1997](/view/html/inforce/current/act-1997-140), > > > > > (b) the [Environmental Planning and Assessment Act 1979](/view/html/inforce/current/act-1979-203), > > > > > (c) the [Local Government Act 1993](/view/html/inforce/current/act-1993-030), > > > > > (d) the [Protection of the Environment Operations Act 1997](/view/html/inforce/current/act-1997-156). > > > (9) The future costs of managing contamination of the former smelter site and any legislative limitations on the use of land at the former smelter site are taken to be costs affecting the value of all interests in land at the former smelter site regardless of whether— > > > > > (a) the land is contaminated land, or > > > > > (b) the legislative limitation applies to the land. > > > (10) A person or a court or tribunal, in determining the amount of compensation, must have regard to, and is entitled to rely on, estimates provided by a government agency (including in reports obtained by a government agency) of the matters set out in subsection (7)(a) and (b). > > > (11) In this section— > > > > Land Acquisition Act means the [Land Acquisition (Just Terms Compensation) Act 1991](/view/html/inforce/current/act-1991-022).