Commonwealth Numbered Regulations Commonwealth Numbered RegulationsDivision 4 leases and restricted periods
(1) For each kind of Division 4 lease set out in column 1 of an item in the following table, the restricted period is the period set out in column 2 of the item.
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Division 4 leases--restricted periods | ||
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Column 1 |
Column 2 | |
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Kind of Division 4 lease |
Restricted period |
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1 |
a lease that provides the lessee cannot, during the restricted period, deal with the lease or the land, or part of the land, comprised in the lease without the written consent of the Minister |
the period stated in the lease or, if no period is stated, the term of the lease |
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2 |
a lease: (a) that contains a building and development provision; and (b) in relation to which a full certificate of compliance has not been issued under subsection 25(3) |
the period ending on the day of the issue of a full certificate of compliance under subsection 25(3) in relation to the lease |
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3 |
a lease in relation to which the class of people eligible for the grant of the lease is restricted under subsection 10(11) |
the period ending 5 years after the day the lease is granted |
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4 |
an instalment lease in relation to which a certificate has not been issued under subsection 25(8) stating that the lessee's liability for instalments under the lease has been discharged |
the period ending on the day of the issue of a certificate under subsection 25(8) in relation to the lease |
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5 |
a lease prescribed by the rules |
the period prescribed by the rules |
Dealings in Division 4 leases
(2) Each of the following is a dealing in a Division 4 lease:
(a) an assignment or transfer of the lease;
(b) a parting with possession of the land comprised in the lease or any part of it;
(c) a dealing prescribed by the rules.
(3) However, subject to section 27 (about arrangements made to avoid the restriction on dealings in this Division), the grant of a sublease is not a dealing in relation to a Division 4 lease, whether made before, on or after the commencement of this Ordinance.
Exemption of Division 4 leases
(4) The Minister may, by notifiable instrument, exempt a Division 4 lease from the application of this Division in relation to a particular dealing.