264Compensation arising under assessment lease

#### 264 Compensation arising under assessment lease 264 Compensation arising under assessment lease > > (1) On the granting of an assessment lease, a landholder of any land (whether or not subject to the lease) becomes entitled to compensation for any compensable loss suffered, or likely to be suffered, by the landholder as a result of the exercise of the rights conferred by the lease or by an access arrangement in respect of the lease. > > > (2) The holder of an assessment lease may agree with a landholder as to the amount of compensation payable, but an agreement reached is not valid unless it is in writing, signed by or on behalf of the parties to the agreement. > > > (3) Such of the provisions of an access arrangement (whether or not in writing) as relate to compensation have effect as an agreement for the purposes of this section. > > > (4) Payment of compensation under this section (other than compensation payable under an access arrangement agreed on as referred to in section 140 (1) (a)) is taken, for the purposes of any security given by the lessee, to be an obligation under the lease. > > > (5) If, immediately before the grant of an assessment lease any part of the assessment area was, or was in, an authorisation area and the subject of a valid agreement under this Division (an existing agreement), a valid agreement is taken to have been entered into in relation to that part for the purpose of this section, if the holder of the assessment lease— > > > > > (a) was the holder of the authorisation immediately before the grant of the assessment lease, or > > > > > (b) is the assignee of the rights under the existing agreement. > > > (6) Subsection (5) ceases to apply to a part of an assessment area if a subsequent valid agreement is entered into, or the Land and Environment Court makes an assessment of compensation payable, in relation to that part. > > **s 264:** Am 1996 No 137, Sch 1 \[35\]; 1999 No 43, Sch 1 \[69\] \[70\]; 2008 No 19, Sch 1 \[226\] (am 2008 No 107, Sch 20 \[3\]; 2010 No 29, Sch 2 \[4\]); 2013 No 111, Sch 3.15.