Land Act 1994

On registration of a transfer—

all the rights, powers, privileges and liabilities of the transferor vest in the transferee; and

the transferee holds the interest in the land subject to the registered interests affecting the interest.

If a land management agreement applies to a lease being transferred, on registration of the transfer—

the transferee is taken to be a party to the agreement in place of the transferor; and

the rights and responsibilities of the transferor under the agreement become the rights and responsibilities of the transferee; and

the lease continues to be subject to the following conditions—

there must be a current land management agreement for the lease;

the lessee must comply with the agreement.