227Compensation for acquisition of property

227 Compensation for acquisition of property

(1) If the operation of: (a) this Act; or (b) a legislative instrument made under this Act; would result in an acquisition of property (within the meaning of paragraph 51(xxxi) of the Constitution) from a person otherwise than on just terms (within the meaning of that paragraph), the Commonwealth is liable to pay a reasonable amount of compensation to the person. (2) If the Commonwealth and the person do not agree on the amount of the compensation, the person may institute proceedings in: (a) the Federal Court; or (b) the Supreme Court of a State or Territory; for the recovery from the Commonwealth of such reasonable amount of compensation as the court determines.