Minerals Development Act, 1979

Assessment of compensation.

23.—(1) Compensation payable in respect of any right vested under section 12 shall be assessed on the basis of what would be fair and reasonable having regard to all the circumstances of the case including such proportion of the net profits arising in consequence of the working of the minerals by the Minister, or by a lessee or licensee under section 17, as is attributable to those minerals as they existed in the land in their natural condition prior to such working.

(2) Compensation shall be determined in the form of periodical, payments unless the Mining Board or the Court, as the case may be, is satisfied that such form of compensation would not of itself be appropriate and in such case the Board or the Court may, in its discretion, award compensation either in the form of a lump sum payment or partly in that form and partly in the form of periodical payments.