Designation of Territory development area
43 Designation of Territory development area
Subject to subsections (2) and (3), the Minister may, in writing, designate an area of land or water to be a Territory development area.
The Minister may make the designation only if the Minister considers that:
the area has potential for development of economic significance to the Territory or a region of the Territory; or
the area has potential for construction of infrastructure that would enable, or be enabled by, development of economic significance to the Territory; or
the area meets any other criteria prescribed by regulation.
The designation must:
assign a name to the Territory development area; and
specify:
the intended development of economic significance of the area to the Territory, or region of the Territory; or
the other reason why the area is being designated; and
specify the boundaries of the area.
The Minister must publish a statement of reasons for the designation on the Territory Coordinator or Agency website.
The designation:
takes effect on the date specified in the notice published under section 60(2); and
has effect until revoked.
This provision refers to the regulations (prescribed by regulation
). Made under this Act:
This Act’s bill:Explanatory statementSecond reading speech
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