373V
In forceAdditional requirements if granted by lessee of term lease
Chapter 6Registration and dealings
Part 4Dealings affecting land
Division 8CCarbon abatement interests
Subdivision 2Creation and registration
373V Additional requirements if granted by lessee of term lease
(1)
This section applies if—
(a)
an owner who is the lessee of a term lease proposes to grant a carbon abatement interest for land; and
(b)
the proposed interest is for a period greater than the remaining term of the term lease.
(2)
The document creating the interest may be registered only if the State—
(a)
is a party to the interest; and
(b)
has approved the terms of the document.
This Act’s bill:Explanatory memorandum
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