Lease of land for industrial or residential purposes
30 Lease of land for industrial or residential purposes
Where the Minister leases Crown land to a person for industrial or business purposes or for the purposes of the erection of residential buildings or for such other purpose, as the Minister thinks fit, he may – grant an option to the lessee thereof to purchase the land; and specify conditions upon the fulfilment of which the lessee may exercise the option.
Where an option to purchase any Crown land is granted to any lessee the price at which the land shall be sold shall be fixed at the time the option is exercised by the lessee in the same manner as is fixed, under section 13(3), the reserve price of Crown land for sale.
This Act’s bill:Explanatory notesSecond reading speech
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