Transfer of property if part of transferred land becomes granted land
35 Transfer of property if part of transferred land becomes granted land
This section applies if—
a part of transferred land becomes granted land; and
a land trust was formed to hold the transferred land; and
the Minister appoints an entity other than the land trust (the new entity) to hold the deed of grant for the granted land.
The Minister must by gazette notice—
set out the description of the land as set out in the deed of grant held by the new entity; and
state the property, rights and liabilities of the land trust that are to become the property, rights or liabilities of the new entity.
On publication of the gazette notice, the stated property, rights and liabilities of the land trust become the property, rights and liabilities of the new entity.
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