18What is a relevant interest?

18 What is a relevant interest?

(1) For the purposes of clause 17, an interest described in a following provision of this clause is a relevant interest.

(2) If:

(a) a person; or

(b) 2 or more persons as joint tenants or tenants in common;

acquire, hold or held an estate in fee simple in land or in a stratum unit, the person or those persons are taken to acquire or hold, or to have held, a relevant interest in that land or stratum unit.

(3) If:

(a) a person acquires, holds or held an interest in land or in a stratum unit as lessee or licensee under a lease of licence; and

(b) the lease or licence gives or gave reasonable security of tenure to the lessee or licensee, for a period of, or for periods totalling, 10 years or more;

the person is taken to acquire or hold, or to have held, a relevant interest in that land or stratum unit, as the case requires.

(4) If:

(a) a person acquires, holds or held interest in land or in a stratum unit as purchaser of an estate in fee simple in the land or in the stratum unit under an agreement; and

(b) the agreement provides or provided for payment of the purchase price, or a part of the purchase price, to be made at a future time or by instalments;

the person is taken to acquire or hold, or to have held, a relevant interest in that land or stratum unit, as the case requires.

(5) If:

(a) a person acquires, holds or held an interest in land or in a stratum unit as purchaser of a right to be granted a lease of the land or of the stratum unit under an agreement; and

(b) the agreement provides or provided for payment of the purchase price, or a part of the purchase price, for the lease to be made at a future time or by instalments; and

(c) the Secretary is satisfied that the lease will give reasonable security of tenure, to the lessee for a period of, or for periods totalling, 10 years or more;

the person is taken to acquire or hold, or to have held, a relevant interest in that land or stratum unit, as the case requires.

(6) If:

(a) 2 or more persons acquire, hold or held an interest referred to in paragraph (3) (a), (4) (a) or (5) (a) in land or in a stratum unit as joint tenants or tenants in common; and

(b) paragraph (3) (b) or (4) (b) or paragraphs (5) (b) and (c) are satisfied;

those persons are taken to acquire or hold, or to have held, a relevant interest in that land or stratum unit, as the case requires.

Part 6 School Fees Benefits

Division 1 What is a school fees benefit?

19 Definition