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s 10D

Matters to be determined by Minister

In force
Part 3Industrial, trading and business sites

10D Matters to be determined by Minister

(1)

After determination of the purchasing price of land pursuant to section 10C, the Minister shall, upon the recommendation of the chief executive, determine—

(a)

the term (not exceeding 10 years) of the freeholding lease; and

(b)

the amount of the deposit that is to accompany the notice of election to proceed with the application; and

(c)

the terms and conditions (if any) in addition to the terms and conditions specified in section 10G to which the freeholding lease shall be subject.

(2)

The chief executive shall give to the lessee notice in writing of—

(a)

the amount of the purchasing price; and

(b)

the term of the freeholding lease; and

(c)

the amount of the deposit that is to accompany the notice of election to proceed with the application; and

(d)

the terms and conditions determined by the Minister pursuant to subsection (1)(c).

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