(1) Section 46(1)
is amended by deleting “Corridor land” and inserting
instead —
“ Except as stated in subsection (3), corridor land
”.
(2) After
section 46(2), the following subsection is inserted —
“
(3) Subsection (1) does not exempt corridor land from
a rate under the Local Government Act 1995 to the extent that, under that
Act, the land is rateable in the hands of a lessee or tenant who holds a lease
or other form of tenancy over the land other than for the purposes of
facilitating the use of corridor land for the carriage of freight by rail.
”.