(1)  For the purposes of section 17 of the Act, the rental for a replacement lease for a shack site for the rental year commencing on 1 September 2010 is the lesser of the following:

(a) $1 500;

(b) 2% of the land value of the shack site as at 2007.

(2)  For the purposes of section 17 of the Act, the rental for a replacement lease for a shack site for each subsequent rental year is the amount calculated in accordance with the following formula:

where:

A is the rental in dollars for the subsequent rental year being calculated;

B is the rental determined under subregulation (1) ;

C is the CPI figure for Hobart for the quarter ending on 30 June immediately preceding the commencement of the subsequent rental year;

D is the CPI figure for Hobart for the quarter ending on 30 June 2007 (as amended by the Australian Bureau of Statistics from time to time).

Displayed and numbered in accordance with the Rules Publication Act 1953 .

Notified in the Gazette on 30 November 2022

These regulations are administered in the Department of Natural Resources and Environment Tasmania.