9Acquisition of additional CCC land

9 Acquisition of additional CCC land

9 Acquisition of additional CCC land

(1) The Trustee of the CCC Trust may use trust property to acquire new land only if—

(a) the land is acquired for a trust purpose, and

(b) the instrument providing for the acquisition of the land provides for—

(i) the land to be transferred to the Crown without compensation, and

(ii) the land to become CCC land immediately on acquisition, and

(c) the Minister consents to paragraph (b)(i) and (ii).

(2) The land is taken to be transferred to the Crown in accordance with the instrument that provides for the acquisition of the land.

(3) When the land is transferred under subsection (2), any equitable interest in the land is extinguished.

(4) The Trustee of the CCC Trust may exercise the Trustee’s functions in relation to land acquired under subsection (1) in accordance with the CCC Trust, whether or not the land has become Crown land.

(5) As soon as practicable after the land becomes Crown land, the land must be reserved for a public purpose under the Crown Land Management Act 2016.