Minimum instalments—Act, ss 457, 462 and 466

In force

(1)

This section prescribes—

(a)

for section 457(1)(e) of the Act—the minimum instalments for a pre-Wolfe freeholding lease; and

(b)

for section 462(1)(d) of the Act—the minimum instalments for a post-Wolfe freeholding lease; and

(c)

for section 466(1)(d) of the Act—the minimum instalments for a grazing homestead freeholding lease.

(2)

The minimum instalments are—

(a)

for a residential lease—379 fee units; or

(b)

for another lease—

(i)

for instalments that pay out the purchase price of the land—940 fee units; and

(ii)

for instalments that pay out the purchase price of commercial timber on the land—940 fee units.

Research tools for this sectionSubscription

The statute text is free to read above. View subscription options to unlock the case-law research tools for each provision.