266Compensation arising under small-scale title

266 Compensation arising under small-scale title

266 Compensation arising under small-scale title

(1) On the granting of a small-scale title, a landholder becomes entitled to compensation determined under this section in lieu of 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 small-scale title.

Note.

Small-scale title means a mineral claim or an opal prospecting licence.

(2) The Minister may determine the compensation payable (standard compensation) for the purposes of subsection (1) and the quantum of any standard compensation is at the discretion of the Minister.

(3) A determination of the Minister is to be made by order published in the Gazette and any such order—

(a) may prescribe different amounts of standard compensation for different mineral claims districts or opal prospecting areas, and

(b) may provide for standard compensation to be indexed on an annual or other basis.

(4) The Secretary must not grant a small-scale title to an applicant unless satisfied that—

(a) the applicant has paid to the collection agency on behalf of any landholder entitled to compensation on the granting of the small-scale title the standard compensation for the term of the small-scale title (unless the applicant and landholder have entered into an agreement as an alternative to standard compensation (a compensation agreement)), and

(b) the applicant has given, in the manner prescribed by the regulations, any such landholder a notice that states the applicant’s intention to exercise rights under the small-scale title and that identifies (by map or otherwise) the land to which the small-scale title applies, and

(c) if the application is for the renewal of a mineral claim, the applicant has, no later than 28 days after lodging the application, paid all outstanding amounts of compensation payable by the applicant to the landholder under the mineral claim (other than compensation that may be payable under a compensation agreement).

(5) The Secretary may grant a small-scale title to an applicant despite the applicant failing to satisfy the Secretary of a matter specified in subsection (4) if the Secretary is satisfied that the failure occurred because the applicant, after taking all reasonable steps, has been unable to sufficiently identify a landholder for the purposes of this section. Nothing in this subsection affects the right of a landholder to compensation under this section.