272   Assessment of compensation

(1)  The assessment of compensation payable under this Part:

(a)  must be made in the manner prescribed by the regulations, and

(b)  must not be made until notice in the approved form:

(i)  has been published in a newspaper circulating generally in the State and in one or more newspapers circulating in the locality in which the land concerned is situated, or

(ii)  has been served on each person who appears to the Land and Environment Court to be interested in the assessment, and

(c)  must not exceed in amount the market value (for other than mining purposes) of the land and the buildings, structures and works situated on the land.

(2)  Any compensation agreed on or determined under Subdivision M or P of Division 3 or Division 5 of Part 2 of the Commonwealth Native Title Act for essentially the same act as an act in respect of which compensation is to be assessed under this Part must be taken into account in the assessment of compensation for the act under this Part.