QLDIn ForceAct
Petroleum Act 1923
sec.124CCompensation for effect of taking of land in a 1923 Act petroleum tenure’s area on 1923 Act petroleum interests
Start here
Get a plain-English read of sec.124C
Turn the raw legal text into a practical explanation grounded in Petroleum Act 1923.
### sec.124C Compensation for effect of taking of land in a 1923 Act petroleum tenure’s area on 1923 Act petroleum interests
This section applies if land in a 1923 Act petroleum tenure’s area is taken under a resumption law (including by taking or otherwise creating an easement).
In assessing any compensation to be paid to the holder of a 1923 Act petroleum interest in relation to the taking of the land, allowance can not be made for the value of petroleum known or supposed to be on or below the surface of, or produced from, the land.
s 124C ins 2012 No. 20 s 73
(sec.124C-ssec.1) This section applies if land in a 1923 Act petroleum tenure’s area is taken under a resumption law (including by taking or otherwise creating an easement).
(sec.124C-ssec.2) In assessing any compensation to be paid to the holder of a 1923 Act petroleum interest in relation to the taking of the land, allowance can not be made for the value of petroleum known or supposed to be on or below the surface of, or produced from, the land.