15Compensation for vesting or extinguishment

### 15 Compensation for vesting or extinguishment > > (1)  On the day (the ***relevant day***) on which an area of land vests in the Crown under [section 11](#GS11@EN) , a person who was, immediately before that day, an owner of the area of land is entitled to compensation for the vesting in the Crown of that area of land. > > > (2)  On the day (the ***relevant day***) on which a licence, lease or sublease is extinguished under [section 12](#GS12@EN) , a person who, immediately before that day, held the licence, lease or sublease is entitled to compensation for the extinguishment. > > > (3)  [Subsection (2)](#GS15@Gs2@EN) does not apply in relation to a lease in respect of land that was, immediately before the relevant day, land to which a lease from the Crown to Tasmanian Railway Pty Ltd (ACN 139 383 761) related but applies in relation to a sublease under such a lease. > > > (4)  The entitlement of a person to compensation under [subsection (1)](#GS15@Gs1@EN) or [(2)](#GS15@Gs2@EN) in relation to a vesting or extinguishment is extinguished at the end of the period of 12 months commencing on the relevant day, if the person does not, within that period, lodge a claim under [subsection (5)](#GS15@Gs5@EN) in relation to the vesting or extinguishment. > > > (5)  A person who is entitled under [subsection (1)](#GS15@Gs1@EN) or [(2)](#GS15@Gs2@EN) to compensation in relation to a vesting or extinguishment may lodge, in writing, with the Secretary a claim for compensation in relation to the vesting or extinguishment. > > > (6)  Compensation is the amount agreed, in writing, between the person and the Minister. > > > (7)  Before agreeing an amount of compensation, the Minister must obtain the approval of the Valuer-General to that amount. > > > (8)  In determining whether to approve an amount of compensation, the Valuer-General is to apply the same principles, with any necessary modification, as he or she would apply in approving an amount of compensation for the purposes of [section 40(8) of the](/view/html/inforce/2026-04-12/act-1993-023#GS40@Gs8@EN) [Land Acquisition Act 1993](/view/html/inforce/2026-04-12/act-1993-023) . > > > (9)  If the person and the Minister cannot agree on the amount of compensation, the claim for compensation is to be determined as if it were a disputed claim for compensation under the [Land Acquisition Act 1993](/view/html/inforce/2026-04-12/act-1993-023) and for that purpose – > > > > > > (a) this section is taken to be a notice of acquisition, within the meaning of that Act, gazetted under [section 18](/view/html/inforce/2026-04-12/act-1993-023#GS18@EN) of that Acton the day after the relevant day; and > > > > > > > (b) the Crown is the acquiring authority.