sec.32DTrustee may make freehold instrument

sec.32D Trustee may make freehold instrument

The trustee of freehold option land may, by resolution, make a schedule identifying the freehold option land available to be granted in freehold. The freehold schedule must identify the freehold option land so the boundaries of the land are capable of being decided. Freehold option land identified in a freehold schedule is available land . A freehold schedule that only identifies freehold option land of a type prescribed by regulation for this subsection is a model freehold schedule . If the trustee makes a freehold schedule, the trustee must, by resolution, make a policy (a freehold policy ) at the same time to help the trustee in implementing the freehold schedule. The freehold policy must be in the approved form and state— the criteria (the eligibility criteria ) for participating in the allocation process for available land; and if there is no interest holder for available land—the allocation method for available land; and the sale price of available land and the costs to be recovered from the sale price; and how the community will be consulted about the allocation process for available land; and how the trustee will deal with interests in, or in relation to, available land, before it is allocated; and the social and financial implications for the community in providing freehold; and the social and financial implications for any eligible person who is granted freehold; and the potential to attract investment and new members into the community; and any other matter prescribed by regulation. s 32D ins 2014 No. 45 s 5 (sec.32D-ssec.1) The trustee of freehold option land may, by resolution, make a schedule identifying the freehold option land available to be granted in freehold. (sec.32D-ssec.2) The freehold schedule must identify the freehold option land so the boundaries of the land are capable of being decided. (sec.32D-ssec.3) Freehold option land identified in a freehold schedule is available land . (sec.32D-ssec.4) A freehold schedule that only identifies freehold option land of a type prescribed by regulation for this subsection is a model freehold schedule . (sec.32D-ssec.5) If the trustee makes a freehold schedule, the trustee must, by resolution, make a policy (a freehold policy ) at the same time to help the trustee in implementing the freehold schedule. (sec.32D-ssec.6) The freehold policy must be in the approved form and state— the criteria (the eligibility criteria ) for participating in the allocation process for available land; and if there is no interest holder for available land—the allocation method for available land; and the sale price of available land and the costs to be recovered from the sale price; and how the community will be consulted about the allocation process for available land; and how the trustee will deal with interests in, or in relation to, available land, before it is allocated; and the social and financial implications for the community in providing freehold; and the social and financial implications for any eligible person who is granted freehold; and the potential to attract investment and new members into the community; and any other matter prescribed by regulation.