69
In forceWhat is the unimproved value
Chapter 3Reserves, deeds of grant in trust and roads
Part 1Reserves and deeds of grant in trust
Division 8Mortgaging trust land
69 What is the unimproved value
(1)
The Minister must decide the unimproved value in the way prescribed by regulation.
(2)
The unimproved value must be calculated as if the land were not restricted by the trust.
(3)
The mortgagee may appeal against the Minister’s decision.
Regulations
This provision refers to the regulations (prescribed by regulation
). Made under this Act:
This Act’s bill:Explanatory memorandum
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