(1) The lessor of a new Act granted lease is—
(a) the trustee of the trust area; or
(b) if the lease land is also the subject of a townsite lease under ALA or TSILA—the lessee under the townsite lease.
(2) A new Act granted lease is subject to—
(a) conditions recorded on the instrument of lease on the granting of the lease; and
(b) the conditions provided for under part 8; and
(c) the provisions of ALA or TSILA as provided for under part 9.