Part 5
Compensation
Additional compensation
72AAmount of compensation to be paid under section 72
The amount of compensation paid under section 72(1) must be determined as follows:
- $35,000 must be paid to the owner of the land if the owner qualifies for compensation under section 72(1); and
- a further $10,000 must be paid to the owner if—
- the Minister or local authority, as applicable, and the owner, within 6 months after the negotiation start date, execute an agreement for the sale and purchase of the land under section 17; and
- the agreement specifies a date on which vacant possession of the land, and all buildings and structures on the land, will be given to the notifying authority; and
- the Minister or local authority, as applicable, and the owner, within 6 months after the negotiation start date, execute an agreement for the sale and purchase of the land under section 17; and
- a further $5,000 may be paid to the owner if the Minister (if the land is taken or acquired for a Government work) or local authority (if the land is taken or acquired for a local work) decides, in his, her, or its discretion, that—
- the personal circumstances of the owner warrant such a payment and compensation is not otherwise paid under this Act for this purpose; or
- the circumstances concerning the acquisition of the owner's principal place of residence warrant such a payment and compensation is not otherwise paid under this Act for this purpose.
- the personal circumstances of the owner warrant such a payment and compensation is not otherwise paid under this Act for this purpose; or
In this section, negotiation start date means the earlier of the following:
- the date on which the notifying authority notifies the owner of land in writing that it intends to acquire the land under section 17:
- the date on which the notifying authority serves notice in relation to land in accordance with section 18(1)(a).
Notes
- Section 72A: inserted, on , by section 195 of the Resource Legislation Amendment Act 2017 (2017 No 15).