Advice of rent payable on variation of lease

In force

(1)

This section applies if—

(a)

the territory planning authority approves a variation of a lease; and

(b)

the lease is a lease (other than a land rent lease) under which rent or additional rent is payable.

(2)

The territory planning authority must—

(a)

work out the amount that would be payable under the lease for rent, including additional rent, up to the day when the authority expects the variation will be executed; and

(b)

give the lessee written notice of—

(i)

the amount worked out for rent, including additional rent, under paragraph (a); and

(ii)

the day up to which the amount payable for rent and additional rent has been worked out; and

(iii)

the day by which the authority requires payment of the amount stated under subparagraph (i) to allow the variation of the lease to be executed on the day stated under subparagraph (ii).

This Act’s bill:Explanatory statement Second reading speech

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319 Advice of rent payable on variation of lease