Land Act 1994

After receiving a notice under section 235(1) or 238(3), a mortgagee of a lease may apply, in writing, to the chief executive for permission to sell the lease.

Note—Section 235 is about forfeiture of a lease for outstanding amounts. Section 238 is about applying to the court for forfeiture.

If the chief executive approves the sale of the lease by the mortgagee, the chief executive must give notice of the chief executive’s approval to the mortgagee and the lessee.

After receiving the notice approving the sale, the mortgagee must sell the lease as a mortgagee in possession under chapter 6, part 4, division 4.

Note—Chapter 6, part 4, division 4 is about registering dealings about mortgages.