Victorian Current Acts Victorian Current ActsS. 3(1) substituted by No. 7583 s. 4.
(1) Any previous appointment of a committee of management of the land in the City of Melbourne known as Princes Park permanently reserved by the hereinbefore recited Order in Council of the 9th day of June, 1873 as a site for a public park is hereby revoked and the corporation is hereby appointed committee of management of the said land.
S. 3(1A) inserted by No. 7583 s. 4, amended by Nos 88/1995 s. 4, 79/2013 s. 32(2).
(1A) Notwithstanding anything in any Act the corporation as committee of management of the said land known as Princes Park may from time to time grant leases of the leasable land for the purposes of sport or recreation or social or cultural or educational activities or purposes connected therewith including the erection of buildings.
(2) A lease under this section—
S. 3(2)(a) amended by No. 7583 s. 5.
(a) shall be subject to such covenants conditions exceptions and reservations as the corporation thinks fit;
S. 3(2)(b) amended by No. 8703 s. 2.
(b) shall be for a term not exceeding forty years; and
(c) shall if the term exceeds three years be subject to approval by the Governor in Council.
S. 3(3) amended by Nos 7583 s. 5, 41/1987 s. 103(Sch. 4 item 6.1).
(3) The moneys received by way of rent under any lease granted under this section shall be applied by the corporation towards the maintenance and improvement of the whole or any part of the said land permanently reserved as aforesaid or for such other purpose as the Minister in any particular case approves.
(4) No person or body of persons whosoever or whatsoever shall be entitled to receive or shall receive from the Crown any money or consideration by way of compensation in respect of any improvement whatsoever or of any act matter or thing under this section.