Minister may make agreed deferred grant
46 Minister may make agreed deferred grant
The Minister may make a deferred grant of a lease (an agreed deferred grant) in a trust area if—
the lease is to satisfy a lease entitlement included in a lease entitlement notice currently in force; and
the Minister has complied with the requirements of subdivision 2; and
the Minister considers all agreements necessary to support the making of the grant (the relevant agreements) have been entered into.
The Minister may grant the lease subject to conditions that are consistent with the relevant agreements.
Before granting a lease, the Minister must—
prepare a statement explaining the proposed approach to satisfying the lease entitlement; and
notify the person to whom the Minister intends to grant the lease to satisfy the lease entitlement and give the person a copy of the statement mentioned in paragraph (a).
The granting of the lease satisfies the lease entitlement and the lease entitlement notice ceases to be a lease entitlement notice currently in force.
The chief executive may publish on the department’s website that the lease entitlement notice has been satisfied by the grant of a lease.
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