Australian Capital Territory Numbered Acts

LAND (PLANNING AND ENVIRONMENT) AMENDMENT ACT 2004 (NO. 64 OF 2004) - SECT 9

in division 3.1, insert

14A     Amount of refund for surrender or termination—Act, s 178 (1)

    (1)     The amount prescribed for a lessee is the lesser of the following amounts:

        (a)     the amount paid for the grant or transfer of the lease to the lessee;

        (b)     the market value of the lease.

    (2)     However, the amount prescribed for a lessee is the price paid for the grant if—

        (a)     the lessee is the lessee originally granted the lease; and

        (b)     the lease was granted before this regulation commences.

    (3)     Subregulation (2) and this subregulation expire 7 years after the day this regulation commences.