(1) The Federal Court may, on the application of the Commonwealth or of any interested person:
(a) determine the person or persons who, at any relevant time, held an interest or interests in particular land in relation to which:
(i) a claim for compensation has been or may be made under this Act; or
(ii) an offer of compensation has been made under subsection 74A(1) or 101A(1), (2) or (3); and
(b) determine the nature of such an interest or interests; and
(c) make such orders as are appropriate for declaring or adjusting rights or liabilities of persons in connection with the land or interests in the land, or arising out of transactions in relation to, or mortgages over, the land or interests in the land.
(2) A determination or order under subsection (1) is binding on the applicant, on the Commonwealth and on all other persons who had interests in the land and to whom notice of the application has, before the commencement of the hearing, been given by the applicant, whether or not those other persons were represented on the hearing of the application.