170
In forcePurchase price if deed of grant offered
Chapter 4Land holdings
Part 3Leases
Division 3Conversion of tenure
170 Purchase price if deed of grant offered
(1)
Unless a price or formula has already been stated in the lease to be converted, the purchase price is the amount decided by the chief executive in the way prescribed by regulation.
(3)
Without limiting subsection (1), the regulation must provide for the purchase price to include the market value of any commercial timber that is the property of the State on the lease land, other than forest products the subject of a forest consent agreement.
Regulations
This provision refers to the regulations (prescribed by regulation
, the regulation
). Made under this Act:
This Act’s bill:Explanatory memorandum
Research tools for this sectionSubscription
The statute text is free to read above. View subscription options to unlock the case-law research tools for each provision.