Payment of rent for special agreement Act leases
771 Payment of rent for special agreement Act leases
From the commencement of this section—
the designated rental provision applies for the payment of rent under any special agreement Act lease; and
a provision of any of the following ceases to apply to the extent the provision conflicts with the designated rental provision—
a special agreement Act;
an agreement mentioned in a special agreement Act;
a special agreement Act lease.
The application of the designated rental provision is subject to subdivision 1.
To remove any doubt, it is declared that the designated rental provision applies as mentioned in subsection (1)(a) despite the relevant special agreement Act and the repealed transitional schedule.
This section does not affect or otherwise limit the application of section 290A to a special agreement Act lease.
In this section—
designated rental provision, for a special agreement Act lease, means—
if the lease has been renewed since 1 September 1990—section 290; or
if the lease has not been renewed since 1 September 1990—modified section 290.
modified section 290 means section 290 changed so that the references in section 290(4) and (5)(b) to the prescribed amount for a rental year are, for a special agreement Act lease, references to the rental payable for the period that corresponds to that year under the relevant—
special agreement Act; or
agreement mentioned in a special agreement Act; or
special agreement Act lease.
repealed transitional schedule means the former schedule to this Act that was repealed by the Offshore Minerals Act 1998.
special agreement Act means an Act mentioned in the table to section 3(1) of the repealed transitional schedule.
special agreement Act lease means a lease mentioned in section 3(1)(b) of the repealed transitional schedule.
This provision refers to the regulations (prescribed amount
). Made under this Act:
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