83General principles for valuing destroyed livestock

83 General principles for valuing destroyed livestock (1) Subject to this Part, the amount of compensation payable for destroyed livestock is the total of the market value of each animal determined by reference to the nearest reference market, less the estimated selling costs and estimated transport costs. (2) For subregulation (1): (a) the estimated selling costs to be deducted from the market value are the costs that would have been likely to have been incurred if the livestock had been sold at the nearest reference market, including any transaction levy that would have been imposed under a law of the Commonwealth; and (b) the estimated transport costs to be deducted from the market value are the costs that would have been likely to have been incurred in transporting the livestock between the place they were kept immediately before being destroyed and the nearest reference market place. (3) The valuation body must value each animal as if it were free of disease and as it stood on the day immediately before it was destroyed, taking into account the animal's age, sex, breed, body condition, liveweight and any other relevant matters.