Commonwealth Numbered Acts

LANDS ACQUISITION ACT 1989 No. 15 of 1989 - SECT 40

40. (1) The Minister may authorise the acquisition by agreement of an interest
in land, other than land in a public park, by an acquiring authority for a
public purpose.

(2) The acquiring authority may then enter into an agreement for the
acquisition of the interest if:

   (a)  a pre-acquisition declaration in relation to the acquisition has
        become absolute and is in force;

   (b)  the Minister has given a certificate under section 24 in respect of
        the acquisition;

   (c)  the interest is available in the market; or

   (d)  the interest is owned by the Commonwealth or a Commonwealth authority.

(3) The Minister shall cause to be laid before each House of the Parliament,
within 15 sitting days of that House after the agreement is entered into, a
statement describing:

   (a)  the interest;

   (b)  the situation of the land;

   (c)  the price at which the interest is being, or has been, acquired; and

   (d)  the public purpose for which the interest is being, or has been,
        acquired.

(4) Failure to comply with subsection (3) in relation to an acquisition does
not invalidate the acquisition.

(5) The interest shall be taken to be available in the market if:

   (a)  the interest is currently advertised as being available for sale or
        lease;

   (b)  the interest is currently listed with a real estate agent, property
        manager or other person performing similar services as being available
        for sale or lease;

   (c)  the owner of the interest has offered it to the acquiring authority in
        response to a publicly advertised request by the acquiring authority
        and the owner's offer has not been withdrawn; or

   (d)  the Minister has certified under subsection (6) that the acquisition
        of the interest by agreement by the acquiring authority would be a
        standard commercial transaction.

(6) If the Minister is satisfied that the acquisition of an interest in land
by an acquiring authority would amount to a normal commercial transaction
between parties dealing with each other on equal terms, the Minister may give
a certificate stating that the acquisition of the interest by the acquiring
authority would be a standard commercial transaction.