Victorian Current Acts

LAKE CORANGAMITE ACT 1966 - SECT 4

    (1)     The compensation payable to any person who surrenders land to the Crown pursuant to this Act shall be equal to such percentage of the average value of undeveloped land surrounding and adjacent to the relevant lake which is not subject to flooding as is specified in the appropriate following table:

TABLE A

Land Inundated by or Adjacent to Lake Corangamite which is—		Percentage of the Value of
At or above reduced Level of—	Below reduced Level of—	Undeveloped Land which is not Subject to Flooding
Feet	Feet	%
0	380	0
380	381	5
381	382	14
382	383	23
383	384	32
384	385	41
385	386	50
386	387	59
387	388	68
388	389	77
389	390	86
390	391	95
391	. .	100

TABLE B

Land Inundated by or Adjacent to Lake Gnarpurt which is—

Percentage of the Value of

At or above reduced Level of—	Below reduced Level of—	Undeveloped Land which is not Subject to Flooding
Feet	Feet	%
0	383	0
383	384	5
384	385	14
385	386	23
386	387	32
387	388	41
388	389	50
389	390	59
390	391	68
391	392	77
392	393	86
393	394	95
394	. .	100

TABLE C

Land Inundated by or Adjacent to Lake Murdeduke which is—

Percentage of the Value of

At or above reduced Level of—	Below reduced Level of—	Undeveloped Land which is not Subject to Flooding
Feet	Feet	%
0	278	0
278	279	5
279	280	14
280	281	23
281	282	32
282	283	41
283	284	50
284	285	59
285	286	68
286	287	77
287	288	86
288	289	95
289	. .	100

    (2)     The percentage of value of undeveloped land applicable to any particular area or areas of land shall be determined—

        (a)     as nearly as may be on the basis of existing or readily available survey information; or

        (b)     where because of the irregular or broken nature of the surface of any area the relevant reduced levels cannot be determined with reasonable accuracy from available survey information, by agreement with the owner having regard to the approximate level of the area in question.

    (3)     Where the compensation payable in accordance with the foregoing provisions in respect of the whole of the lands surrendered by any one owner is less than an average of $50 per acre for the whole of that land the compensation payable shall nevertheless be calculated and payable on the basis of $50 per acre for that land.

S. 5
amended by No. 49/1994 s. 9(6)(a)(b).