Adjustment of annual rent in line with Consumer Price Index for transitional period
8A Adjustment of annual rent in line with Consumer Price Index for transitional period
Section 4C of the Crown Lands (Continued Tenures) Act 1989 continues to apply to a continued tenure to which it applied immediately before the Act’s repeal for the period of 5 years commencing on the day on which this Schedule commences, subject to the following modifications—
a reference to that Act is to be read as a reference to this Act,
a reference to the minimum rent is to be read as reference to the minimum rent for the tenure as provided by Part 6 of this Act.
Note.
Section 4C of the Crown Lands (Continued Tenures) Act 1989 provided for the adjustment of annual rent in line with the Consumer Price Index for certain leases that were subject to rent redetermination under that Act and permissive occupancies.
Section 4D of the Crown Lands (Continued Tenures) Act 1989 continues to apply to a continued tenure to which it applied immediately before the Act’s repeal until clause 9 (4) becomes applicable to it following a redetermination under clause 9, subject to the following modifications—
a reference to that Act is to be read as a reference to this Act,
a reference to the minimum rent is to be read as reference to the minimum rent for the tenure as provided by Part 6 of this Act.
Note.
Section 4D of the Crown Lands (Continued Tenures) Act 1989 provided for the adjustment of annual rent in line with the Consumer Price Index for leases to which that Act applied that were not subject to rent redetermination under that Act. Clause 9 (4) provides for similar adjustments to be made following a rent redetermination under that clause.
This Act’s bill:Explanatory memorandumSecond reading speech
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