42Subdivision of lease, &c.

42 Subdivision of lease, &c. (1) A lessee may apply to the Minister for approval to subdivide the land included in his or her lease. (2) An application under subsection (1): (a) shall be in writing; and Crown Lands Act 1992 20 (b) shall be accompanied by a plan showing the manner in which it is proposed to subdivide the land. (3) The Minister may: (a) approve the application; or (b) refuse the application. (4) The Minister shall notify the lessee of the Minister's decision in writing and, if the Minister has approved the application, the Minister shall specify in the notification: (a) the reservations, conditions and provisions to be included in each lease of the land if it is subdivided; and (b) in respect of each of the portions into which the land is to be subdivided: (i) the purchase price, if any, for the lease of the portion; and (ii) the lease grant charges, if any, for a lease of the portion. (5) The lessee may: (a) if he or she has paid all rent due under the lease; (b) if he or she accepts the reservations, conditions and provisions specified by the Minister; and (c) if he or she has paid the purchase prices, lease grant charges, fees and deposits specified in the notification, surrender the lease and shall be granted a new lease for each of the subdivided portions of the land. (6) A surrender of a lease: (a) shall be made within 90 days after the date of the notification of the approval of the subdivision; and (b) shall have effect from the date of commencement of the new leases. (7) A new lease granted under this section: (a) shall preserve the lessee's rights, if any, in respect of improvements on any land included in the new lease; and Crown Lands Act 1992 21 (b) shall, in addition to the matters provided for elsewhere in this Act, contain the reservations, conditions and provisions which are specified in the notification under subsection (4). (8) This section applies subject to section 44.