Requirements for entering joint ventures prescribed (Act s. 78(1))
13 Requirements for entering joint ventures prescribed (Act s. 78(1))
The Minister may enter into a joint venture with another person (the other joint venturer) under section 78(1) of the Act for the purpose of developing and selling Crown land if the other joint venturer —
is a local government or a State instrumentality; or
is a person —
who is the holder of the freehold in land adjoining the Crown land to be developed and sold by the joint venture; and
whose financial circumstances and professional standing are considered by the Minister to be satisfactory for the purposes of the joint venture;
or
is determined by public tender or any other process in which the public is given an opportunity to participate.
Before Crown land that is developed by a joint venture entered into by the Minister under section 78(1) of the Act is sold, the Minister must obtain and have regard to the advice of the Valuer‑General as to the market value of the land.
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