Australian Capital Territory Numbered Regulations

PLANNING AND DEVELOPMENT REGULATION 2008 (NO 2 OF 2008) - REG 191

    (1)     The discharge amount in relation to a dealing with a rural lease, other than a special Pialligo lease, is the amount worked out as follows:

Note     Deal with a lease—see the Act, s 234.

    (2)     In this section:

"first amount" means—

        (a)     for a nominal rent lease—the consideration for the lease when it was granted less the excluded amount; or

        (b)     for a lease granted with a term of not longer than 21 years—the value of the lease when it was granted less the excluded amount; or

        (c)     for any other lease—the consideration for the lease when it was granted plus any amount to be paid under the lease less the excluded amount.

"indexed first amount" means the amount worked out as follows:

"last amount", in relation to a dealing with a lease, means—

        (a)     the market value of the lease less the excluded amount if—

              (i)     there is no consideration for the dealing; or

              (ii)     the dealing relates only to part of the land in the lease; or

              (iii)     the consideration for the dealing is less than the market value of the lease; or

        (b)     in any other case—the consideration for the dealing less the excluded amount.

"later index number", in relation to a lease, means the last index number published before the last amount is worked out for the lease.

"owed amount", in relation to a dealing with a lease, means—

        (a)     for a lease with a term of less than 21 years—any rent plus interest payable under the lease on the day of the dealing with the lease; or

        (b)     for a lease with a term of at least 21 years—any amount remaining to be paid under the lease, even if the amount is not yet owing.