Interest on rent etc. in arrear
228 Interest on rent etc. in arrear
S. 228(1) amended by No. 9805 s. 4(a).
Where any rent royalty licence-fee or other payment under any lease licence or other agreement for the occupation of Crown land is in arrear—
for one year or any longer period—where such rent royalty licence-fee or payment is payable yearly or half-yearly; or
for three months or any longer period—where such rent royalty licence-fee or payment is payable quarterly or for any period less than a quarter—
interest thereon shall (unless otherwise expressly provided) be paid by such lessee licensee or other occupant (as the case may be) at such rate as is determined from time to time by the Minister for the period commencing on the day when such rent royalty licence-fee or payment become due and ending—
on the last day of the year last preceding the year in which payment is made—in any case where the rent royalty licence-fee or payment is paid yearly; or
on the last day of the half-year last preceding the half-year in which payment is made—in any case where the rent royalty licence-fee or payment is payable half yearly; or
on the last day of the quarter last preceding the quarter in which payment is made—in any case where the rent royalty licence-fee or payment is payable quarterly; or
on the last day of the quarter last preceding the quarter in which payment is made—in any case where the rent royalty licence-fee or payment is payable for any period less than a quarter: Provided that in any case under this subparagraph the period for the payment of interest shall commence on the day after the last day of the quarter during which such rent royalty licence-fee or payment became due.
S. 228(2) substituted by No. 9805 s. 4(b).
This section shall apply to—
all leases or licences of Crown land issued or renewed under this Act or any Act repealed by this Act;
all other agreements for the occupation of Crown land whether made before or after the commencement of this Act;
demises and purchase leases issued or renewed under the Agricultural Colleges Act 1958;
leases issued under the Closer Settlement Act 1938;
leases and licences granted under the Mt. Hotham Alpine Resort Act 1972; and
the amounts required to be paid under section 24 of the Mt. Hotham Alpine Resort Act 1972.
S. 228(3) amended by Nos 7228 s. 7(Sch. 4 Pt 19(za)), 25/2023 s. 7(Sch. 1 item 17.24).
Nothing in this section shall prejudice or lessen any rights powers or remedies of His Majesty or the Minister under any such licence or lease or agreement for the occupation of Crown land or extend to or confer on any licensee or lessee or other occupant any rights whatsoever in addition to those contained in any such licence or lease or agreement (as the case may be).
The statute text is free to read above. View subscription options to unlock the case-law research tools for each provision.