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Formal Resumption
If you are not interested in lodging an early acquisition application and would prefer to wait for formal resumption, that process is commenced with a Notice of Intention to Resume (NIR). After the NIR is issued, the taking is formalised by Notice published in the Government Gazette. From Gazettal you have 3 years within which to make a claim for compensation. If that 3 year period has expired, you can only proceed with the consent of the resuming authority, or the consent of the Court. You must have compelling reasons for not acting within that 3 year time frame.
The steps involved to determine compensation are similar in both the early acquisition application and in a formal resumption.
If you are a business owner, you are entitled to have your business either re-located to other suitable premises, or if there are no suitable premises, you are entitled to compensation for the extinguishment of your business.
You will be entitled to recover reasonable legal, valuation fees as well as the reasonable fees for any other expert required to quantify your compensation claim.
The other critical difference between an early acquisition and formal resumption, is that after gazettal, if you are not able to settle your compensation claim, you may refer your matter to the Land Court for resolution. Again, our preference is for our clients to settle as the Land Court can be a prolonged, stressful, and expensive process. Once you refer your matter to the Land Court, reimbursement of legal fees and other experts’ fees becomes a matter for determination by Court order. It is for that reason, that we only recommend the Land Court as an option if you and the resuming authority are hundreds of thousands of dollars apart on compensation. Our preference always remains to reach a resolution that has you moving on with your life, rather than being tied up in a prolonged Court dispute.
If you have any questions, we are happy to have an obligation free discussion with you about your affected property and or business. Please feel free to call one of us directly or use the contact form and one of us will be in contact with you.
Read more about the Early Acquisition Application process here
Cece Law Pty Ltd ACN: 637 405 915
Liability limited by a scheme approved under professional standards legislation
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Cece Law Pty Ltd ACN: 637 405 915
Liability limited by a scheme approved under professional standards legislation
Website By Country Consulting