Issuing of amalgamated lease
176S Issuing of amalgamated lease
On acceptance of the amalgamation offer—
any plan of amalgamation required under a condition of the offer to be lodged must be registered; and
the designated person may issue the amalgamated lease in accordance with the terms of the accepted offer.
Note—See—
section 403T for requirements for acceptance of offers; and
section 153 for a requirement for a lease to state its purpose.
The amalgamated lease is issued subject to all relevant registered interests to which the existing leases were subject with the same priorities.
On registration of the amalgamated lease, the existing leases are taken to have been wholly surrendered.
The surrenders must be registered.
This Act’s bill:Explanatory memorandum
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