(1) Section 166(1), from 'A lessee' to 'conversion application)'--
omit, insert--
'Subject to subsections (2) to (4), a lessee may apply to convert (a conversion application)'.
(2) Section 166(2)(b), 'Minister's'--
omit, insert--
'chief executive's'.
(3) Section 166(3)--
renumber as section 166(5).
(4) Section 166--
insert--
'(3) A lessee of a term lease not issued for pastoral purposes may only apply to convert the lease to freehold land.
'(4) A conversion application can not be made for a lease if it contains a reservation that all of the lease land is a future conservation area.'.
(5) Section 166--
insert--
'(6) In this section--
existing term, of the lease, does not include an extension under section 155A or 155B of the term of the lease.'.