Executive Forum: Just Terms Compensation - Understanding Expert Reports (N190716)
API members preparing compensation assessments arising from compulsory acquisition are increasingly required to consider, in detail, the content of expert reports in disciplinary areas such as planning, geology, threatened species, hydrology, engineering, architecture and more.
Both the Land Acquisition (Just Terms Compensation) Act 1991 and the API's Valuation and Property Standards require Members undertaking the compensation assessments to independently review such expert reports and form a view as to whether the reports should be used to inform the Member’s compensation assessment.
Responsibility lies with API members when preparing compensation assessments to not merely take unquestioningly the content of such expert reports, but to form their own view as to the appropriateness of the assumptions in the circumstances and the qualifications and experience of the author of the expert reports.
- Patricia Lane, Barrister, Level 22 Chambers
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