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Fisheries Act 1996

Performance of services by approved organisations - Transfer of property, rights, and obligations to chief executive

296M: Compensation for transfer of property

You could also call this:

"Getting paid if the government takes your property"

Illustration for Fisheries Act 1996

If property is transferred to the chief executive under section 296H, you get the market value of the property. The chief executive asks a registered valuer to determine the market value. The Crown pays you this amount. The Crown does not pay you from a monetary deposit or bond held for the approved service delivery organisation. You get the compensation from the Crown directly. This is how the law works for compensation when property is transferred.

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View the original legislation for this page at https://legislation.govt.nz/act/public/1986/0120/latest/link.aspx?id=DLM399539.

Topics:
Housing and property > Buying and selling homesHousing and property > Land useMoney and consumer rights > Compensation
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296L: Date on which transfer of property takes effect, or

"When property is transferred to the government, this is when it officially happens"

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296N: Resolution of disputes regarding compensation, or

"Solving disagreements about compensation payments"

Part 15APerformance of services by approved organisations
Transfer of property, rights, and obligations to chief executive

296MCompensation for transfer of property

  1. If property is transferred to the chief executive under section 296H, the Crown is liable to pay to the specified person the market value of the property transferred, as determined by a registered valuer at the request of the chief executive.

  2. No compensation payable by the Crown under this section may be paid out of the monetary deposit or bond held by the chief executive in respect of the approved service delivery organisation.

Notes
  • Section 296M: inserted, on , by section 65 of the Fisheries Act 1996 Amendment Act 1999 (1999 No 101).