South Australian Current Acts

AQUACULTURE ACT 2001 - SECT 38

38—Term and renewal of production leases

        (1)         The term of a production lease is such period (not exceeding 30 years) as is specified in the lease.

        (1a)         The Minister may, on application by the holder of a production lease that—

            (a)         has a term of 20 years or less; and

            (b)         was in force immediately before the commencement of this subsection,

extend the term of the lease by such period as the Minister thinks fit (but such an extension cannot prolong the term of the lease beyond the thirtieth anniversary of the day on which the lease was granted or renewed).

        (1b)         The term of a production lease cannot be extended under subsection (1a) more than once.

        (2)         A production lease is renewable for successive terms.

        (3)         This section has effect subject to provisions of this Act or a production lease for the renewal or cancellation of the lease.