46Payment of compensation by promoter, &c.

46 Payment of compensation by promoter, &c.

(1)  [Section 46 Subsection (1) amended by No. 4 of 2017, Sched. 1, Applied:01 Jul 2019] For the purposes of making a payment under section 45 or 50 , an acquiring authority who is a promoter may use money deposited with the Treasurer in anticipation of the payment of compensation by the authority and kept in an account kept in the Public Account in accordance with section 17 .

(2)  If an acquiring authority who is a promoter fails to pay to a claimant the compensation and interest payable under this Act within the period specified in section 45 , the claimant may request the Treasurer, in writing, to pay that compensation and interest.

(3)  Within 30 days after receiving a request referred to in subsection (2) , the Treasurer must pay any compensation and interest payable to the claimant which remains unpaid.

(4)  For the purposes of complying with subsection (3) , the Treasurer –

(a) [Section 46 Subsection (4) amended by No. 4 of 2017, Sched. 1, Applied:01 Jul 2019] may use money kept in an account kept in the Public Account in accordance with section 17 in anticipation of the payment to a claimant of compensation and interest on that compensation; and

(b) if the money kept in that account is insufficient to meet that payment, must make that payment out of money provided by Parliament for the purpose.

(5)  [Section 46 Subsection (5) amended by No. 4 of 2017, Sched. 1, Applied:01 Jul 2019] After all compensation in respect of which an acquiring authority had deposited money with the Treasurer to be kept in an account kept in the Public Account in accordance with section 17 and all interest relating to that compensation has been paid, the Treasurer must–

(a) pay any money remaining in that account to the authority; and