New South Wales Consolidated Acts

CROWN LAND MANAGEMENT ACT 2016 - SECT 6.5

6.5 General principles for rent determinations or redeterminations

(1) The principles set out in this section are to be applied when--

(a) determining the rent for a holding (including when determining provisions concerning rent for inclusion in the provisions of holding), and

(b) redetermining the rent for a holding.

(2) The following principles apply to the determination or redetermination of rent for a holding--

(a) the rent is to be the market rent for the land under the holding having regard to any restrictions, conditions or terms to which it is subject,

(b) any improvements on the land that were made by the holder of the holding, or are owned or in the course of being purchased from the Crown by the holder, are to be disregarded,

(c) regard may be had to any additional value that, because of the holding, has accrued (or may reasonably be expected to accrue) to other land held by the holder of the holding,

(d) regard may be had to the duration of the time for which the rent will be payable.

(3) The Minister may, by order published in the Gazette, exempt a specified holding (or class of holding) from the market value principle set out in subsection (2) (a) if--

(a) the Secretary has recommended the making of the order, and

(b) the Treasurer has agreed to the exemption.

(4) A recommendation made by the Independent Pricing and Regulatory Tribunal in relation to the rent for a holding (or class of holdings) may be applied by the Minister or Secretary (as the case requires) despite subsection (2) when--

(a) determining or redetermining the rent for any lease or licence to which the recommendation relates, or

(b) determining or redetermining the rent for any enclosure permit to which the recommendation relates.