Australian Capital Territory Numbered Acts

PLANNING AND DEVELOPMENT (UNIVERSITY OF CANBERRA AND OTHER LEASES) LEGISLATION AMENDMENT ACT 2015 (NO. 19 OF 2015) - SECT 129

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    (2A)     The value of the amount mentioned in subsection (1) (c) must be worked out under the Planning and Development Act 2007

, section 295 as if the Territory (or, if the units plan subdivides a parcel of land under a declared land sublease, the Crown lessee) were the planning and land authority.

    (2B)     Subsection (2C) applies if—

        (a)     the term of a lease of a unit or common property in a units plan that subdivides a parcel of land under a declared land sublease expires; and

        (b)     the owners corporation has not given the Crown lessee at least 6 month's written notice before the lease expired that the owners corporation did not intend to apply for a further lease under section 167AA.

    (2C)     The Crown lessee may deduct the amount (up to the prescribed amount) of any expenditure reasonably incurred by the Crown lessee in subleasing the land, or part of the land, under the expired leases to someone else from the amount payable by the Crown lessee under subsection (1) (c).