(1) A local authority that, as a result of the operation of section 13(1), loses its title to any area in the public foreshore and seabed that it had acquired by purchase, may apply to the Minister of Conservation for redress.
(2) An application by a local authority under subsection (1) must be made not later than 12 months after the commencement of this section.
(3) In considering an application by a local authority under subsection (1), the Minister of Conservation must be guided by whichever of the following criteria is applicable:
(a) if the local authority purchased the relevant land at full market value, compensation is to be paid at current market value:
(b) if the local authority did not purchase the relevant land at full market value, redress is limited to compensation for direct financial loss to the local authority arising from the change in ownership, including loss of—
(i) any income that the local authority would, but for the operation of section 13(1), have derived from the relevant part of the public foreshore and seabed; and
(ii) any investment that the local authority made in the land after purchase.
(4) No court has jurisdiction to hear any claim in respect of any loss suffered by a local authority as a result of the operation of section 13(1).