Crown Lands Act 1992

Subject to subsection (2), the Minister shall not grant a lease to a person until the person has paid in full as lease grant charges:

if a purchase price is payable in respect of the lease – the purchase price;

if an amount is payable under section 18 in respect of the lease

– that amount; and

if rent is payable in respect of the lease – the first year's rent.

The Minister may grant a lease to a person who is required to pay, but has not paid in full, in relation to the lease a purchase price or an amount under section 18 but, where the Minister does so, he or she shall secure the outstanding balance owing, together with interest at such rate as is agreed between the parties, by lease covenant or by mortgage.