34
In forceDissolution of land trust if transferred land becomes granted land
34 Dissolution of land trust if transferred land becomes granted land
(1)
This section applies if—
(a)
the whole of an area of transferred land becomes granted land; and
(b)
a land trust was formed to hold the transferred land; and
(c)
the Minister appoints an entity other than the land trust to hold the deed of grant for the granted land.
(2)
The Minister must, by gazette notice, dissolve the land trust formed to hold the transferred land.
(3)
When the land trust is dissolved, all its property, rights and liabilities become the property, rights and liabilities of the entity that holds the granted land.
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