Page 2082 - Week 07 - Thursday, 23 August 2007

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235 Notice of direct sale

Clause 235 (1)

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direct grant

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direct sale

Clause 236 heading

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236 Direct sale leases subject to agreed provisions

Clause 239 (2) (a)

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(a) a rental lease granted for the full market rental value of the lease; or

Note Rental lease—see s 226.

Proposed new clause 239 (3) and (4)

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(3) To remove any doubt, an entity pays an amount that is not less than the market value of a lease if—

(a) the entity pays less than the market value of the lease (the monetary component); and

(b) the entity provides infrastructure, or carries out other work, in relation to the lease (the works component); and

(c) the total of the monetary component and the value of the works component is not less than the market value of the lease.

(4) The validity of a lease granted by the planning and land authority is not affected by a failure to comply with this section.

Clause 240 (2) and (3)

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(2) However, if the lease is a residential lease, the land may also be used for home business.

(3) In this section:

home business, carried on on land subject to a residential lease, means a profession, trade or other occupation carried on by a resident of the land.

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