(1) The holder of a holding is required to pay rent for the holding unless--(a) the provisions of the holding provide for no rent to be payable, or(b) the rent has been waived or its payment postponed under this Act.Note--: Section 12.15 enables the Minister to--(a) waive, reduce, or remit rent for a holding, or(b) postpone the payment of rent for a holding, or(c) grant a rebate of rent for a holding.
(2) A holding may include provisions concerning the amount of rent payable for the holding (including how it is to be determined, redetermined or adjusted and when and to whom it is payable).
(3) The rent payable for a holding is to be determined, redetermined or adjusted--(a) for a holding that includes provisions for how rent is to be determined, redetermined or adjusted--in accordance with those provisions, or(b) in any other case--in accordance with the provisions of this Part and any other applicable provisions of this Act or the regulations.
(4) Subsection (3) (a) does not limit the powers of the Secretary to redetermine or adjust rent if a provision of this Act or the regulations requires or permits the Secretary to redetermine or adjust rent following a change to the area, purposes or conditions of the holding (for example, under section 4.3 and Divisions 7.2 and 7.3).