116Federal Court may approve certain acts

116 Federal Court may approve certain acts

(1) Where: (a) an acquiring authority wishes to acquire an interest in land from a person by agreement; and (b) but for this subsection, the person would not have the capacity or power to enter into or carry out such an agreement; the person may, with the approval of the Federal Court, enter into and carry out such an agreement. (2) Where: (a) an interest in land has been acquired from a person by compulsory process; and (b) but for this subsection, the person would not have the capacity or power to do something in connection with compensation in respect of the acquisition; the person may, with the approval of the Court, do the thing. (3) Where, under subsection (1) or (2), the Court gives its approval to a person entering into an agreement, or doing something in connection with compensation, amounts payable under the agreement, or by way of compensation, shall be: (a) paid to a trustee appointed by the Court, subject to such trusts as the Court directs; or (b) otherwise applied in accordance with the directions of the Court. (4) This section has effect despite any law, deed, will, memorandum or articles of association or other instrument.