Financial Framework Legislation Amendment Act 2005 (8 of 2005)

Schedule 1   Amendments relating to the Financial Management Legislation Amendment Act 1999 and Special Accounts

Part 2   Special Accounts and references to paid to the Consolidated Revenue Fund

Lands Acquisition Act 1989

171   Subsections 114(2) to (4)

Repeal the subsections, substitute:

(2) The Minister may direct that an amount equal to the compensation be credited to the Account.

(3) On crediting the Account with the compensation, the compensation must, for the purposes of section 115, be taken to have been paid to the person.

(4) If the person rectifies the default or delay referred to in subsection (1), the Commonwealth must pay the person an amount equal to the amount credited to the Account and debit the Account accordingly.

Note: The heading to section 114 is replaced by the heading " Crediting of amounts of compensation to the Account ".