500
In forceApplication of prepaid rent
Chapter 8Continued rights and tenures
Part 7Tenures under other Acts
Division 2Miners homesteads
500 Application of prepaid rent
(1)
If a current miners homestead application is approved, rent paid for the period after the application was lodged, is credited to the cost of freeholding, or, if the rent paid is more than the cost, the overpaid amount must be refunded to the lessee together with interest at the rate prescribed under the regulations.
(2)
The interest is payable from the day the excess rent was received to the day the amount of the excess is refunded.
Regulations
This provision refers to the regulations (prescribed under the regulations
). Made under this Act:
This Act’s bill:Explanatory memorandum
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