Northern Territory Consolidated Acts Northern Territory Consolidated Acts(1) A valuation panel is constituted of the following members appointed in writing by the Chief Inspector:
(a) a person who has valuation experience, and a knowledge of current values, relevant to the destroyed livestock or destroyed things to which the panel's determination relates;
(b) a person who has a knowledge of and experience in the industry most relevant to the destroyed livestock or thing;
(c) a person nominated by the owner of the destroyed livestock or destroyed things.
(2) The Chief Inspector must not appoint a person mentioned in subsection (1)(a) or (b) if the person or the person's employer has a pecuniary interest in relation to the destroyed livestock or destroyed things.
(3) Subject to the regulations, the following matters must be determined by agreement of all or a majority of the members of the valuation panel:
(a) the procedure to be followed by the valuation panel;
(b) the amount of compensation payable.
(4) The valuation panel must give the Chief Inspector a written notice if the panel is unable to reach a consensus or majority agreement.
(5) If the panel makes a determination of compensation, it must give the Chief Inspector a written notice, in accordance with the regulations, and the Chief Inspector must give a copy to the applicant and Chief Executive Officer.