Meaning of prescribed change of ownership
6A Meaning of prescribed change of ownership
A prescribed change of ownership of an unconverted lease is a change in the lessee’s ownership of the lease registered on or after the application day, other than any of the following—
for an unconverted lease held by joint tenants, if 1 or more of the joint tenants die—the recording of the surviving joint tenant or tenants as the lessee for the lease;
for an unconverted lease held by a lessee who dies—a transmission of the lease to the lessee’s personal representative;
for an unconverted lease held by a person who becomes an insolvent under administration—a transmission of the lease—
to the person’s trustee; or
if the person ceases to be an insolvent under administration—from the person’s trustee to the person;
another change in the lessee’s ownership of a type prescribed under a regulation.
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