130
In forceTransfer of lease for significant development
Chapter 4Land holdings
Part 1Making land available
Division 2ALeases for significant development
130 Transfer of lease for significant development
(1)
Before a lease issued for a significant development is transferred, the chief executive may obtain an independent assessment of the transferee’s financial and managerial capabilities.
(2)
The transferee must pay the cost of the assessment.
(3)
The cost is not refundable.
(4)
If the chief executive obtains an assessment under subsection (1), the lease must not be transferred to the transferee unless the Minister is satisfied, having regard to the assessment, about the transferee’s financial and managerial capabilities.
This Act’s bill:Explanatory memorandum
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