95Entitlement to compensation—exercise of powers under Part III

95 Entitlement to compensation—exercise of powers under Part III

Where: (a) person who owns an interest in land suffers loss because of the exercise, in relation to the land, of powers conferred by Part III; and (b) either: (i) within 3 years after suffering the loss, the person makes a claim for compensation in accordance with section 97 in respect of the loss; or (ii) the Minister makes an offer of compensation to the person under subsection 101A(1) in respect of the loss; the Commonwealth is liable to pay to that person as compensation such amount as will justly compensate him or her for the loss.