Application of Division
6 Application of Division
This Division applies in relation to pending irrigation lease purchases.
A pending irrigation lease purchase is a proposed purchase of land under a lease that becomes a continued irrigation lease when this Schedule commences if—
the holder of the lease is the proposed purchaser, and
for land under a mortgage—each mortgagee has given written consent to the purchase, and
a contract of sale for the land has not yet been entered (including because the purchase price has not been finalised).
The provisions of this Division prevail over the provisions of Schedule 4 to the extent of any inconsistency.
This Act’s bill:Explanatory memorandumSecond reading speech
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