1 November 2021
Land Acquisition Framework published by Department of Finance
New Resource Management Guide No 501
On 26 October 2021 the Department of Finance published RMG 501: Lands Acquisition Framework (Framework).
The Framework (at paragraph 3) states that all non-corporate Commonwealth entities must comply with the Framework when undertaking transactions requiring authorisations under the Lands Acquisition Act 1989 (LA Act). Corporate Commonwealth entities should strongly consider referring to the Framework, including referenced policies and procedures, which are consistent with good practice.
The Framework relates to acquisitions and disposals of interests in land under sections 40, 41, 119 and 125 of the LA Act (which includes the sections that typically arise in agencies’ day to day property dealings), and provides guidance around:
- how to plan and conduct an acquisition of an interest in land (by agreement and by compulsory process)
- how to conduct a valuation of an interest in land
- how compensation is determined
- the process for disposal of an interest in land
- reporting obligations in the LA Act and the delegations made under the LA Act.
Read and comply with the Framework
Agencies should ensure that all officers dealing with property transactions and requesting or giving approvals under the LA Act read and become familiar with the Framework.
For further information please contact:
Department of Finance or AGS contacts below.
Important: The material in Express law is provided to clients as an early, interim view for general information only, and further analysis on the matter may be prepared by AGS. The material should not be relied upon for the purpose of a particular matter. Please contact AGS before any action or decision is taken on the basis of any of the material in this message.