68Surrender and regrant of Crown lease

68 Surrender and regrant of Crown lease (1) Duty under this chapter is not payable for the grant of a new Crown lease to the lessee under a previous Crown lease because of the surrender of the previous lease if the commissioner is satisfied that the surrender was only for 1 or more of the following purposes: (a) changing the purpose for which the land comprised in the lease may be used; (b) granting the lessee a longer leasehold interest in the land comprised in the lease; (c) reducing rent to not more than 5 cents a year; (d) correcting errors or omissions. (2) Duty under this chapter is not payable for the grant of new Crown leases to a lessee under a previous Crown lease because of the surrender of the previous lease if the commissioner is satisfied that the surrender was only for— (a) subdividing the land comprised in the surrendered lease; or (b) that purpose and 1 or more of the purposes mentioned in subsection (1) (a) to (d).

(3) Duty under this chapter is not payable for the grant of a new Crown lease to a lessee under 2 or more previous Crown leases because of the surrender of the previous leases if the commissioner is satisfied that the surrender was only for— (a) consolidating the land comprised in the surrendered leases; or (b) that purpose and 1 or more of the purposes mentioned in subsection (1) (a) to (d). (4) This section applies to a declared land sublease as if it were a Crown