Page 3898 - Week 12 - Thursday, 21 October 1993

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(5) A Leases Act 1918 lease commenced on 1 September 1983. Its expiry date is

31 December 2005.

The lease has a withdrawal clause; the current rent is $3360 pa.; rates for 1993-94 are $837.25; the Member will be aware that land tax is not payable on a rural lease; and the purpose clause refers to "grazing and agricultural purposes".

While there is no specific renewal provision made in the lease, and S.172 of the Land Act does not permit the renewal of a rural lease, the "renewal options" available to any rural lessee is the surrender of the existing lease (generally in the process of seeking a variation to the lease) and the grant of a new lease.

Under the Governments Rural Lease Policy, a new lease granted in this part of Kowen could be for a period up to 50 years.

3898

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