Legislative acts
(1) This section applies to a future act consisting of the making, amendment or repeal of legislation in relation to the management or regulation of:
(a) surface and subterranean water; or
(b) living aquatic resources; or
(c) airspace.
In this subsection, water means water in all its forms and management or regulation of water includes granting access to water, or taking water.
Leases, licences etc.
(2) This section also applies to a future act consisting of the grant of a lease, licence, permit or authority under legislation that:
(a) is valid (including because of this Act); and
(b) relates to the management or regulation of:
(i) surface and subterranean water; or
(ii) living aquatic resources; or
(iii) airspace.
In this paragraph, water means water in all its forms and management or regulation of water includes granting access to water, or taking water.
Validity of act
(3) The act is valid.
Non - extinguishment principle
(4) The non - extinguishment principle applies to the act.
Compensation
(5) The native title holders concerned are entitled to compensation for the act in accordance with Division 5.
Who pays compensation
(6) The compensation is payable by:
(a) if the act is attributable to the Commonwealth--the Crown in right of the Commonwealth; or
(b) if the act is attributable to a State or Territory--the Crown in right of the State or Territory.
Notification
(7) Before an act covered by subsection (2) is done, the person proposing to do the act must:
(a) notify, in the way determined, by legislative instrument, by the Commonwealth Minister, any representative Aboriginal/Torres Strait Islander bodies, registered native title bodies corporate and registered native title claimants in relation to the land or waters that will be affected by the act, or acts of that class, that the act, or acts of that class, are to be done; and
(b) give them an opportunity to comment on the act or class of acts.