On the commencement of section 6 or 7, as the case requires:
(a) the property of the State of Victoria in the Condah land or in Framlingham Forest (other than property in minerals); and
(b) each interest of a person (other than the Kerrup - Jmara Elders Aboriginal Corporation or the Kirrae Whurrong Aboriginal Corporation) in the Condah land or in Framlingham Forest (other than interests in minerals);
is converted into a right to compensation under this Act.