Concurrent subleases for declared projects
477C Concurrent subleases for declared projects
If a relevant entity holds a lease under the Land Act 1994 of port land or land relating to a declared project that has been subleased to a person, the entity may grant a concurrent sublease of all or part of the land to another person for all or part of the term of the lease.
Note—
See section 262 for the application of particular provisions of the Land Act 1994 to a concurrent sublease granted under this section of all or part of land relating to a declared project mentioned in the Infrastructure Investment (Asset Restructuring and Disposal) Act 2009, section 5(1)(c) or (d).
If MEDQ holds a trade lease of land that has been subleased to a person, MEDQ may grant a concurrent sublease of all or part of the land to another person for all or part of the term of the lease.
Note—
MEDQ is the legal successor of the former Urban Land Development Authority—see the Economic Development Act 2012, section 180.
To remove any doubt, it is declared that the Minister’s approval under the Land Act 1994 is not required for a grant of a concurrent sublease under this section.
The chief executive of the department that administers the Land Act 1994 may record a dealing effected under this section in the leasehold land register.
In this section—
declared entity has the meaning given by the Infrastructure Investment (Asset Restructuring and Disposal) Act 2009.
declared project has the meaning given by the Infrastructure Investment (Asset Restructuring and Disposal) Act 2009.
lease see section 267.
port entity see section 267.
port land see section 283ZZL.
relevant entity means the following—
the State;
a declared entity, other than MEDQ;
a port entity;
a rail government entity;
a railway manager;
a related body corporate of a railway manager.
sublease see section 267.
This Act’s bill:Explanatory memorandum
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