74
In forceMinister may start winding up
Chapter 3Reserves, deeds of grant in trust and roads
Part 1Reserves and deeds of grant in trust
Division 9Winding up trusts of trust land
74 Minister may start winding up
(1)
The Minister, by gazette notice (the liquidation notice), may appoint a person (the liquidator) to wind up the affairs of a trust if—
(a)
the dedication of a reserve is revoked; or
(b)
a deed of grant in trust is cancelled; or
(c)
a deed of grant in trust is sold by a mortgagee in possession.
(2)
The Minister must—
(a)
give a copy of the liquidation notice to every person who has a registered interest in the trust land; and
(b)
advise every trustee lessee and trustee permittee of the trust land of their rights to remove their improvements from the trust land.
This Act’s bill:Explanatory memorandum
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